UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C. 20549

                           FORM 10-KSB

    Annual Report Under Section 13 or 15(d) of The Securities
                      Exchange Act of 1934

          For the Fiscal Year Ended:  December 31, 2005

                Commission file number:  0-19838

   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
         (Name of small business issuer in its charter)

        State of Minnesota                 41-1677062
  (State or other jurisdiction of       (I.R.S. Employer
  incorporation or organization)       Identification No.)

      30 East 7th Street, Suite 1300, St. Paul, Minnesota 55101
              (Address of principal executive offices)

                          (651) 227-7333
                   (Issuer's telephone number)

Securities registered under Section 12(b) of the Exchange Act:
                                 Name of each exchange on
     Title of each class             which registered
             None                          None

Securities registered under Section 12(g) of the Exchange Act:

                      Limited Partnership Units
                        (Title of class)

Check whether the issuer is not required to file reports pursuant
to Section 13 or 15(d) of the Exchange Act.

Check  whether  the issuer (1) filed all reports required  to  be
filed by Section 13 or 15(d) of the Exchange Act during the  past
12  months  (or  for such shorter period that the registrant  was
required to file such reports), and (2) has been subject to  such
filing requirements for the past 90 days.       Yes [X]   No

Check if disclosure of delinquent filers in response to Rule  405
of  Regulation  S-B  is  not  contained  in  this  Form,  and  no
disclosure  will  be  contained,  to  the  best  of  registrant's
knowledge,   in   definitive  proxy  or  information   statements
incorporated by reference in Part III of this Form 10-KSB or  any
amendment to this Form 10-KSB.  [X]

Indicate by check mark whether the registrant is a shell  company
(as defined in Rule 12b-2 of the Exchange Act). Yes     No [X]

The  Issuer's revenues for the year ended December 31, 2005  were
$1,401,264.

As  of  February 28, 2006, there were 20,280.67 Units of  limited
partnership  interest outstanding and owned by  nonaffiliates  of
the  registrant, which Units had an aggregate market value (based
solely  on  the price at which they were sold since there  is  no
ready market for such Units) of $20,280,670.

               DOCUMENTS INCORPORATED BY REFERENCE
 The registrant has not incorporated any documents by reference
                        into this report.

Transitional Small Business Disclosure Format:     Yes   No [X]
                             PART I

ITEM 1.   DESCRIPTION OF BUSINESS.

       AEI Net Lease Income & Growth Fund XIX Limited Partnership
(the  "Partnership" or the "Registrant") is a limited partnership
which  was  organized  pursuant to  the  laws  of  the  State  of
Minnesota on September 14, 1990.  The registrant is comprised  of
AEI  Fund Management XIX, Inc. (AFM) as Managing General Partner,
Robert P. Johnson, the President and sole director of AFM, as the
Individual  General Partner, and purchasers of partnership  units
as  Limited  Partners.  The Partnership offered for  sale  up  to
$30,000,000  of  limited  partnership  interests  (the   "Units")
(30,000  Units  at  $1,000 per Unit) pursuant to  a  registration
statement  effective February 5, 1991. The Partnership  commenced
operations  on May 31, 1991 when minimum subscriptions  of  1,500
Limited  Partnership  Units  ($1,500,000)  were  accepted.    The
Partnership's  offering  terminated February  5,  1993  when  the
extended  offering  period  expired.   The  Partnership  received
subscriptions   for   21,151.928   Limited   Partnership    Units
($21,151,928).

        The  Partnership  was organized to acquire  existing  and
newly  constructed commercial properties located  in  the  United
States,  to  lease  such properties to tenants under  triple  net
leases,  to  hold  such  properties and to eventually  sell  such
properties.    From   subscription  proceeds,   the   Partnership
purchased  nineteen  properties, including partial  interests  in
four properties, at a total cost of $16,994,880.  The balance  of
the   subscription  proceeds  was  applied  to  organization  and
syndication  costs,  working capital reserves and  distributions,
which  represented a return of capital.  The properties  are  all
commercial,  single  tenant buildings  leased  under  triple  net
leases.

         The   Partnership's  properties  were   purchased   with
subscription proceeds without any indebtedness.  The  Partnership
will not finance properties in the future to obtain proceeds  for
new  property  acquisitions.  If it is required  to  do  so,  the
Partnership  may  incur  short-term indebtedness,  which  may  be
secured  by a portion of the Partnership's properties, to finance
day-to-day cash flow requirements (including cash flow  necessary
to  repurchase  Units).   The amount of borrowings  that  may  be
secured by the properties is limited in the aggregate to  20%  of
the  purchase price of all properties.  The Partnership will  not
incur  borrowings prior to application of the proceeds from  sale
of the Units, will not incur borrowings to pay distributions, and
will  not  incur  borrowings while there is  cash  available  for
distributions.

       The Partnership will hold its properties until the General
Partners  determine  that the sale or other  disposition  of  the
properties   is   advantageous  in  view  of  the   Partnership's
investment  objectives.  In deciding whether to sell  properties,
the  General  Partners will consider factors  such  as  potential
appreciation,  net  cash flow and income tax considerations.   In
addition,  certain  tenants may be granted  options  to  purchase
properties  after  a  specified portion of  the  lease  term  has
elapsed.   The  Partnership expects to sell some or  all  of  its
properties  prior to its final liquidation and  to  reinvest  the
proceeds   from   such  sales  in  additional  properties.    The
Partnership reserves the right, at the discretion of the  General
Partners,  to  either  distribute  proceeds  from  the  sale   of
properties  to  the  Partners or to  reinvest  such  proceeds  in
additional  properties,  provided that  sufficient  proceeds  are
distributed  to  the Limited Partners to pay  federal  and  state
income  taxes related to any taxable gain recognized as a  result
of  the  sale.  It is anticipated that the Partnership will  sell
its  remaining  properties within the next two  to  three  years,
although  final  liquidation  may  be  delayed  by  a  number  of
circumstances,  including market conditions and seller  financing
of properties.

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)

Leases

       Although there are variations in the specific terms of the
leases,  the following is a summary of the general terms  of  the
Partnership's  leases.   The properties  are  leased  to  various
tenants  under  triple  net  leases,  which  are  classified   as
operating  leases.   Under  a triple net  lease,  the  tenant  is
responsible  for  all real estate taxes, insurance,  maintenance,
repairs  and  operating expenses for the property.   The  primary
lease terms are for 15 to 20 years.  The leases provide for  base
annual  rental  payments,  payable in monthly  installments,  and
contain  rent  clauses which entitle the Partnership  to  receive
additional rent in future years based on stated rent increases or
if  gross  receipts  for  the property exceed  certain  specified
amounts, among other conditions.

        The leases provide the tenants with two to five five-year
renewal options subject to the same terms and conditions  as  the
primary  term.   Certain  tenants have been  granted  options  to
purchase the property at a formula price.  In many of the leases,
the  option  price  is  stated to be the  greater  of  the  price
determined by the stated formula or the fair market value of  the
property  as  agreed upon by the parties or determined  based  on
appraisals.  In general, the formula price is determined  in  one
of  two  ways.  Under the first, the option price is the original
purchase   price  of  the  property  increased  by  a   specified
percentage per year, compounded annually.  Under the second,  the
option  price is determined by dividing the annual  rent  at  the
time the purchase option is exercised by a percentage.  Based  on
the  scheduled annual rent under the lease, the resulting  option
price  would always be greater than the original purchase  price.
The  actual sale price of a property to a tenant may or  may  not
exceed original cost depending on market and other conditions.

Property Activity

         In  February  2003,  the  Partnership  entered  into  an
agreement  to  sell the Party City retail store  in  Gainesville,
Georgia to an unrelated third party.  On March 21, 2003, the sale
closed  with  the  Partnership receiving  net  sale  proceeds  of
$1,711,879,  which resulted in a net gain of  $427,332.   At  the
time  of sale, the cost and related accumulated depreciation  was
$1,435,309 and $150,762, respectively.

        During  the second quarter of 2003, the Partnership  sold
23.934% of the Champps Americana restaurant in Troy, Michigan, in
six  separate  transactions,  to unrelated  third  parties.   The
Partnership received total net sale proceeds of $1,612,362  which
resulted  in a net gain of $560,397.  The total cost and  related
accumulated depreciation of the interests sold was $1,180,397 and
$128,432, respectively.

       During the first nine months of 2003, the Partnership sold
its  60% interest in the Tumbleweed restaurant in Columbus, Ohio,
in  four separate transactions, to unrelated third parties.   The
Partnership received total net sale proceeds of $1,038,773, which
resulted  in a net gain of $293,015.  The total cost and  related
accumulated  depreciation of the interests sold was $823,496  and
$77,738, respectively.

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)

        In May 2003, the Partnership entered into an agreement to
sell  its  38.2362%  interest in the Taco  Cabana  restaurant  in
Houston, Texas, to the tenant.  On July 30, 2003, the sale closed
with  the  Partnership receiving net sale proceeds  of  $674,797,
which  resulted in a net gain of $212,639.  At the time of  sale,
the  cost  and related accumulated depreciation was $547,322  and
$85,164, respectively.

        On July 3, 2003, the Partnership purchased a 50% interest
in  a  Biaggi's restaurant in Fort Wayne, Indiana for $1,379,347.
The property is leased to Biaggi's Ristorante Italiano, LLC under
a  Lease  Agreement with a primary term of 15  years  and  annual
rental  payments  of  $122,004.  The remaining  interest  in  the
property was purchased by AEI Net Lease Income & Growth  Fund  XX
Limited Partnership, an affiliate of the Partnership.

        On  July  11,  2003,  the Partnership  sold  the  Denny's
restaurant  in  Apple Valley, California for  $1,100,000  to  the
tenant.   The sale agreement required a cash payment of  $971,250
and  a  Promissory Note for $128,750.  The Partnership recognized
net sale proceeds of $1,076,459, which resulted in a net gain  of
$130,443.   At the time of sale, the cost and related accumulated
depreciation was $1,177,655 and $231,639, respectively.

        On  September 19, 2003, the Partnership purchased  a  37%
interest  in  a  Winn-Dixie  store in Panama  City,  Florida  for
$1,712,829.   The  property is leased to  Winn-Dixie  Montgomery,
Inc. under a Lease Agreement with a primary term of 20 years  and
annual  rental payments of $138,380.  The remaining interests  in
the  property were purchased by AEI Income & Growth Fund  24  LLC
and  AEI Income & Growth Fund XXI Limited Partnership, affiliates
of the Partnership.

        In  February 2005, the tenant of the Winn-Dixie store and
its  parent  company,  Winn-Dixie, Inc.,  filed  for  Chapter  11
bankruptcy reorganization.  Rents are current and the Partnership
expects  to  continue to receive all scheduled  rents  in  future
months unless the Lease is rejected by Winn-Dixie.  If the  Lease
is affirmed, Winn-Dixie must comply with all Lease terms.  If the
Lease  is  rejected,  Winn-Dixie  would  be  required  to  return
possession of the property to the Partnership and the Partnership
would  be  responsible  for real estate  taxes  and  other  costs
associated  with  maintaining the property.  The Partnership  has
evaluated the lease and property value and decided that there  is
no  impairment loss at this time.  At December 31, 2005, the book
value of this property was $1,607,873.

        On  October  15, 2003, the Partnership sold  its  1.1054%
interest  in  the  Applebee's  restaurant  in  Crestview   Hills,
Kentucky  to  the  tenant.   The Partnership  received  net  sale
proceeds  of  $23,207, which resulted in a net gain  of  $12,614.
The  cost  and  related accumulated depreciation of the  interest
sold was $14,039 and $3,446, respectively.

        During 2003, the Partnership sold its 52% interest in the
Johnny  Carino's  restaurant  in  San  Antonio,  Texas,  in  five
separate   transactions,  to  unrelated   third   parties.    The
Partnership received total net sale proceeds of $1,651,078, which
resulted  in a net gain of $500,761.  The total cost and  related
accumulated depreciation of the interests sold was $1,194,932 and
$44,615, respectively.

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)

        During 2003, the Partnership sold its 40.75% interest  in
the  Garden  Ridge retail store in Pineville, North Carolina,  in
fifteen  separate transactions, to unrelated third parties.   The
Partnership received total net sale proceeds of $4,381,044, which
resulted in a net gain of $1,379,368.  The total cost and related
accumulated depreciation of the interests sold was $3,615,378 and
$613,702, respectively.

        On  November  5,  2003, the Partnership purchased  a  50%
interest  in a Johnny Carino's restaurant in Longview, Texas  for
$1,179,878.   The  property is leased to Kona  Restaurant  Group,
Inc. under a Lease Agreement with a primary term of 17 years  and
annual  rental payments of $105,750.  The remaining  interest  in
the  property was purchased by AEI Real Estate Fund XVII  Limited
Partnership, an affiliate of the Partnership.

        During  the fourth quarter of 2005, the Partnership  sold
23.1409% of the Johnny Carino's restaurant in Longview, Texas, in
three  separate  transactions, to unrelated third  parties.   The
Partnership  received total net sale proceeds of $758,149,  which
resulted  in  a  net  gain of $237,562.   The  cost  and  related
accumulated  depreciation of the interests sold was $546,069  and
$25,482, respectively.

        Subsequent to December 31, 2005, the Partnership sold its
remaining 26.8591% interest in the Johnny Carino's restaurant  in
Longview,  Texas,  in three separate transactions,  to  unrelated
third  parties.  The Partnership received total net sale proceeds
of  approximately  $861,000, which resulted  in  a  net  gain  of
approximately   $256,800.   The  cost  and  related   accumulated
depreciation  of  the  interests sold was $633,809  and  $29,576,
respectively.  At December 31, 2005, the property was  classified
as Real Estate Held for Sale with a book value of $604,233.

        On  December 30, 2003, the Partnership purchased a Johnny
Carino's  restaurant in Brownsville, Texas for  $2,322,610.   The
property is leased to Kona Restaurant Group, Inc. under  a  Lease
Agreement  with  a  primary term of 13 years  and  annual  rental
payments of $192,014.

        On  February  5,  2004, the Partnership purchased  a  50%
interest  in  a  Jared  Jewelry store in Lakewood,  Colorado  for
$2,017,603.   The  property is leased to Sterling  Jewelers  Inc.
under  a  Lease  Agreement with a primary term of  20  years  and
annual  rental payments of $155,219.  The remaining  interest  in
the  property was purchased by AEI Real Estate Fund XVIII Limited
Partnership, an affiliate of the Partnership.

        On  April  30,  2004,  the Partnership  purchased  a  50%
interest   in  an  Applebee's  restaurant  in  Stow,   Ohio   for
$1,575,755.   The property is leased to Apple Ohio  LLC  under  a
Lease Agreement with a primary term of 20 years and annual rental
payments of $120,043.  The remaining interest in the property was
purchased by AEI Real Estate Fund XVIII Limited Partnership.

       In October 2005, the Partnership entered into an agreement
to  sell its interest in the Applebee's restaurant in Stow,  Ohio
to  an  unrelated third party.  On November 15,  2005,  the  sale
closed  with  the  Partnership receiving  net  sale  proceeds  of
$1,835,784,  which resulted in a net gain of  $310,235.   At  the
time  of sale, the cost and related accumulated depreciation  was
$1,575,755 and $50,206, respectively.

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)

        On May 10, 2004, the Partnership purchased a 50% interest
in  an Eckerd drug store in Auburn, New York for $2,287,291.  The
property  is leased to Eckerd Corporation under a Lease Agreement
with  a  primary term of 20 years and annual rental  payments  of
$184,753.   The remaining interest in the property was  purchased
by AEI Real Estate Fund XVIII Limited Partnership.

        On  November 19, 2004, the Partnership sold  its  3.3979%
interest in the Applebee's restaurant in Aurora, Colorado to  the
tenant.   The Partnership received net sale proceeds of  $77,724,
which  resulted in a net gain of $45,044.  The cost  and  related
accumulated  depreciation of the interest sold  was  $44,782  and
$12,102, respectively.

        In  July 2003, the tenant of the Razzoo's restaurants  in
Austin,  Texas  and Alpharetta, Georgia notified the  Partnership
that it was experiencing financial difficulty stemming from lower
than  expected sales and that it might not be able to pay  future
rents.  However, rents are current on the property in Austin.  In
November  2004,  the Partnership and the tenant entered  into  an
agreement  to  amend  the Lease for the  property  in  Austin  to
provide  the  tenant with options to purchase  the  property  and
terminate  the  Lease.  Under the purchase option, which  expires
October   31,  2006,  the  tenant  can  elect  to  purchase   the
Partnership's interest in the property for $338,000.   Under  the
termination option, the tenant can elect to terminate  the  Lease
by  providing  no less than six months prior written  notice  and
paying a termination payment equal to one year's rent.  The lease
cannot be terminated prior to October 31, 2006.  As part of  this
agreement, the Partnership received a personal guarantee from the
majority  shareholder  of  the tenant for  payment  of  the  rent
through  October  31,  2006.  In addition,  the  Partnership  was
reimbursed  for  certain expenses it incurred  related  to  legal
action it pursued in connection with this situation.

        In  late  2003,  the  tenant  closed  the  restaurant  in
Alpharetta  and  said  that it no longer intended  to  operate  a
restaurant  at the site.  The Partnership and the tenant  entered
into  an agreement, effective November 1, 2004, to terminate  the
lease  and  return possession of the property to the Partnership.
Rents  were current through the date of termination.  As part  of
the   agreement,  the  Partnership  was  reimbursed  for  certain
expenses  it  incurred  related to legal  action  it  pursued  in
connection  with  this  situation.  The  Partnership  listed  the
property  for  sale with a real estate broker in  the  Alpharetta
area.   While  the  property  was  vacant,  the  Partnership  was
responsible  for  real estate taxes and other costs  required  to
maintain the property.

       Based on an analysis of market conditions in the area, the
Partnership  determined the property was impaired  in  accordance
with  the  requirements  of  Statement  of  Financial  Accounting
Standards  No. 144, Accounting for the Impairment or Disposal  of
Long-Lived Assets.  As a result, in the fourth quarter of 2003, a
charge  to discontinued operations for real estate impairment  of
$169,320  was  recognized, which was the difference  between  the
book  value  at  December 31, 2003 of $569,320 and the  estimated
fair value of $400,000.  The charge was recorded against the cost
of  the land, building and equipment.  At December 31, 2004,  the
property was classified as Real Estate Held for Sale.

         In  December  2004,  the  Partnership  entered  into  an
agreement  to  sell the property in Alpharetta  to  an  unrelated
third  party.   On  March  29, 2005, the  sale  closed  with  the
Partnership  receiving  net  sale  proceeds  of  $432,160,  which
resulted in a net gain of $32,160.

ITEM 1.   DESCRIPTION OF BUSINESS.  (Continued)

       Subsequent to December 31, 2005, the Partnership purchased
an Advance Auto Parts store in Harlingen, Texas for approximately
$1,561,900.   The  property is leased to Advance Stores  Company,
Inc.  under  a Lease Agreement with a remaining primary  term  of
14.4 years and annual rental payments of $111,210.

       Subsequent to December 31, 2005, the Partnership purchased
a  50%  interest in a Tractor Supply Company store  in  Mesquite,
Texas  for  approximately $1,214,800.  The property is leased  to
Tractor  Supply Company under a Lease Agreement with a  remaining
primary  term of 7.4 years and annual rental payments of $87,258.
The  remaining interest in the property was purchased by AEI  Net
Lease  Income & Growth Fund XX Limited Partnership, an  affiliate
of the Partnership.

Major Tenants

        During 2005, three tenants each contributed more than ten
percent  of  the Partnership's total rental revenue.   The  major
tenants  in aggregate contributed 44% of total rental revenue  in
2005.   It  is anticipated that, based on minimum rental payments
required  under  the leases, each major tenant will  continue  to
contribute  more than ten percent of rental revenue in  2006  and
future   years.   Any  failure  of  these  major  tenants   could
materially   affect  the  Partnership's  net  income   and   cash
distributions.

Competition

        The  Partnership is a minor factor in the commercial real
estate  business.   There are numerous entities  engaged  in  the
commercial  real  estate  business which have  greater  financial
resources  than  the  Partnership.  At the time  the  Partnership
elects to dispose of its properties, the Partnership will  be  in
competition  with other persons and entities to find  buyers  for
its properties.

Employees

        The  Partnership  has  no direct  employees.   Management
services   are  performed  for  the  Partnership  by   AEI   Fund
Management, Inc., an affiliate of AFM.

ITEM 2.   DESCRIPTION OF PROPERTIES.

Investment Objectives

        The  Partnership's investment objectives were to  acquire
existing or newly-developed commercial properties throughout  the
United  States that offer the potential for (i) preservation  and
protection  of  the  Partnership's capital; (ii)  partially  tax-
deferred  cash distributions from operations which  may  increase
through  rent  participation clauses or mandated rent  increases;
and  (iii) long-term capital gains through appreciation in  value
of   the  Partnership's  properties  realized  upon  sale.    The
Partnership  does not have a policy, and there is no  limitation,
as  to the amount or percentage of assets that may be invested in
any  one  property.  However, to the extent possible, the General
Partners  attempt  to  diversify the type  and  location  of  the
Partnership's properties.

ITEM 2.DESCRIPTION OF PROPERTIES. (Continued)

Description of Properties

       The Partnership's properties are commercial, single tenant
buildings.  The properties were acquired on a debt-free basis and
are  leased to various tenants under triple net leases, which are
classified as operating leases.  The only exception is under  the
lease   for  the  Advance  Auto  Parts  store,  the  Company   is
responsible  for  repairs  to the structural  components  of  the
building,   except   for  the  roof,  which   is   the   tenant's
responsibility.   The Partnership holds an undivided  fee  simple
interest in the properties.

        The  Partnership's properties are subject to the  general
competitive conditions incident to the ownership of single tenant
investment  real estate.  Since each property is leased  under  a
long-term   lease,   there  is  little  competition   until   the
Partnership  decides to sell the property.   At  this  time,  the
Partnership will be competing with other real estate  owners,  on
both a national and local level, in attempting to find buyers for
the   properties.   In  the  event  of  a  tenant  default,   the
Partnership would be competing with other real estate owners, who
have  property vacancies, to attract a new tenant  to  lease  the
property.   The Partnership's tenants operate in industries  that
are  very  competitive and can be affected  by  factors  such  as
changes  in regional or local economies, seasonality and  changes
in consumer preference.

        The  following table is a summary of the properties  that
the Partnership acquired and owned as of December 31, 2005.

                          Total Property                Annual    Annual
                 Purchase  Acquisition                  Lease     Rent Per
Property           Date      Costs      Tenant          Payment   Sq. Ft.

Taco Cabana Restaurant                Texas Taco
 San Antonio, TX  3/16/92  $1,147,274 Cabana L.P.       $226,142  $83.14

Taco Cabana Restaurant
 Waco, TX                             Texas Taco
 (2.4058%)         5/1/92  $   19,721 Cabana L.P.       $  3,501  $52.69

Applebee's Restaurant                   Gourmet
 Crestwood, MO    4/14/93  $  803,418 Systems, Inc.     $143,744  $28.66

HomeTown Buffet Restaurant
 Tucson, AZ                            Summit Family
 (2.2074%)        6/16/93  $   28,418 Restaurants, Inc. $  4,878  $23.00

Applebee's Restaurant
 Temple Terrace, FL                   Casual Restaurant
 (9.0963%)        10/1/93  $   96,262  Concepts, Inc.   $ 18,260  $43.26

Champps Americana Restaurant             Champps
 Troy, MI                               Operating
 (.016%)           9/3/98  $      788  Corporation      $     93  $52.54


ITEM 2.DESCRIPTION OF PROPERTIES. (Continued)

                          Total Property                Annual    Annual
                 Purchase  Acquisition                  Lease     Rent Per
Property           Date      Costs      Tenant          Payment   Sq. Ft.

Tumbleweed Restaurant
 Chillicothe, OH
 (40%)           11/20/98  $  505,224  Tumbleweed, Inc. $ 58,521  $26.68

Marie Callender's Restaurant               Marie
 Henderson, NV                           Callender
 (2.5775%)        9/28/99  $   44,142  Pie Shops, Inc.  $  4,371  $28.19

Razzoo's Restaurant
 Austin, TX                              Razzoo's,
 (13%)            6/27/01  $  417,939      LP           $ 42,599  $33.44

Champps Americana Restaurant             Champps
 Utica, MI                              Operating
 (28%)            2/12/02  $  963,874  Corporation      $113,093  $47.05

Biaggi's Restaurant
 Ft. Wayne, IN                        Biaggi's Ristorante
 (50%)             7/3/03  $1,379,347   Italiano, LLC   $122,004  $25.81

Winn-Dixie Retail Store
 Panama City, FL                         Winn-Dixie
 (37%)            9/19/03  $1,712,829 Montgomery, Inc.  $138,380  $ 7.23

Johnny Carino's Restaurant
 Longview, TX                         Kona Restaurant
 (26.8591%)       11/5/03  $  633,809   Group, Inc.     $ 57,949  $35.35

Johnny Carino's Restaurant            Kona Restaurant
 Brownsville, TX 12/30/03  $2,322,610   Group, Inc.     $193,934  $31.46

Jared Jewelry Store
 Lakewood, CO                            Sterling
 (50%)             2/5/04  $2,017,603  Jewelers Inc.    $155,219  $50.86

Eckerd Drug Store
 Auburn, NY                               Eckerd
 (50%)            5/10/04  $2,287,291   Corporation     $184,753  $26.75



ITEM 2.   DESCRIPTION OF PROPERTIES. (Continued)

        The  properties  listed above with  a  partial  ownership
percentage  are  owned with affiliates of the Partnership  and/or
unrelated  third  parties.   The  remaining  interests   in   the
Tumbleweed restaurant in Chillicothe, Ohio are owned by AEI  Real
Estate  Fund  XVIII  Limited Partnership and an  unrelated  third
party.   The  remaining interests in the Razzoo's  restaurant  in
Austin,  Texas  are  owned by AEI Real  Estate  Fund  XV  Limited
Partnership,  AEI Real Estate Fund XVII Limited  Partnership  and
AEI Income & Growth Fund XXII Limited Partnership.  The remaining
interests in the Champps Americana restaurant in Utica,  Michigan
are  owned  by  AEI  Net Lease Income & Growth  Fund  XX  Limited
Partnership and unrelated third parties.  The remaining  interest
in  the  Biaggi's restaurant is owned by AEI Net Lease  Income  &
Growth  Fund XX Limited Partnership.  The remaining interests  in
the  Winn-Dixie store are owned by AEI Income & Growth  Fund  XXI
Limited  Partnership and unrelated third parties.  The  remaining
interests  in the Jared Jewelry store and the Eckerd  drug  store
are owned by AEI Real Estate Fund XVIII Limited Partnership.  The
remaining  interests  in  the Marie Callender's  restaurant,  the
HomeTown  Buffet restaurant, the Champps Americana restaurant  in
Troy,  Michigan, the Taco Cabana restaurant in Waco,  Texas,  the
Applebee's  restaurant in Temple Terrace, Florida and the  Johnny
Carino's  restaurant in Longview, Texas are  owned  by  unrelated
third parties.

        The Partnership accounts for properties owned as tenants-
in-common  with  affiliated Partnerships and/or  unrelated  third
parties  using  the  proportionate  consolidation  method.   Each
tenant-in-common  owns  a  separate, undivided  interest  in  the
properties.   Any  tenant-in-common that holds more  than  a  50%
interest  does  not control decisions over the  other  tenant-in-
common  interests.   The financial statements reflect  only  this
Partnership's percentage share of the properties' land,  building
and equipment, liabilities, revenues and expenses.

        At  the  time the properties were acquired, the remaining
primary  Lease  term  varied from 13 to  20  years.   The  Leases
provide  the  tenants with two to five five-year renewal  options
subject to the same terms and conditions as the primary term.

       Pursuant to the Lease Agreements, the tenants are required
to provide proof of adequate insurance coverage on the properties
they  occupy.   The General Partners believe the  properties  are
adequately covered by insurance and consider the properties to be
well-maintained and sufficient for the Partnership's operations.

         For  tax  purposes,  the  Partnership's  properties  are
depreciated  under the Modified Accelerated Cost Recovery  System
(MACRS).  The largest depreciable component of a property is  the
building  which  is depreciated, using the straight-line  method,
over  31.5 or 39 years, depending on the date when it was  placed
in  service.  The remaining depreciable components of a  property
are   personal   property   and  land  improvements   which   are
depreciated,  using an accelerated method, over 5 and  15  years,
respectively.  Since the Partnership has tax-exempt Partners, the
Partnership is subject to the rules of Section 168(h)(6)  of  the
Internal  Revenue  Code  which  requires  a  percentage  of   the
properties' depreciable components to be depreciated over  longer
lives  using  the straight-line method.  In general, the  federal
tax  basis of the properties for tax depreciation purposes is the
same as the basis for book depreciation purposes.

        Through  December 31, 2005, all properties  listed  above
were 100% occupied.

ITEM 3.   LEGAL PROCEEDINGS.

       None.

ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

       None.


                             PART II

ITEM 5.   MARKET FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS
       AND SMALL BUSINESS ISSUER PURCHASES OF EQUITY SECURITIES.

        (a) As of December 31, 2005, there were 1,433 holders  of
record  of the registrant's Limited Partnership Units.  There  is
no  other  class  of  security outstanding  or  authorized.   The
registrant's  Units  are  not a traded security  in  any  market.
During the period covered by this report, the Partnership did not
sell  any  equity  securities that are not registered  under  the
Securities Act of 1933.

       Cash distributions of $18,861 and $17,697 were made to the
General Partners and $1,867,278 and $1,751,949 were made  to  the
Limited   Partners   in   2005  and  2004,   respectively.    The
distributions  were made on a quarterly basis and  represent  Net
Cash   Flow,  as  defined,  except  as  discussed  below.   These
distributions  should  not be compared  with  dividends  paid  on
capital stock by corporations.

        As  part  of the Limited Partner distributions  discussed
above,  the  Partnership  distributed $492,324  and  $450,906  of
proceeds from property sales in 2005 and 2004, respectively.  The
distributions  reduced  the  Limited Partners'  Adjusted  Capital
Contributions.

       (b) Not applicable.

        (c) Pursuant to Section 7.7 of the Partnership Agreement,
each  Limited  Partner  has the right to  present  Units  to  the
Partnership  for  purchase by submitting notice to  the  Managing
General  Partner  during September of each  year.   The  purchase
price  of  the  Units  is  based on a formula  specified  in  the
Partnership  Agreement.  Units tendered to  the  Partnership  are
redeemed  on  October 1st of each year subject to  the  following
limitations.  The Partnership is not obligated to purchase in any
year  more  than  5%  of the number of Units outstanding  at  the
beginning  of  the  year.  In no event shall the  Partnership  be
obligated  to  purchase Units if, in the sole discretion  of  the
Managing General Partner, such purchase would impair the  capital
or operation of the Partnership.  During the last three months of
2005, the Partnership did not purchase any Units.

ITEM 6.MANAGEMENT'S DISCUSSION AND ANALYSIS.

        The Management's Discussion and Analysis contains various
"forward  looking  statements"  within  the  meaning  of  federal
securities  laws  which  represent management's  expectations  or
beliefs  concerning future events, including statements regarding
anticipated  application of cash, expected  returns  from  rental
income,  growth  in revenue, taxation levels, the sufficiency  of
cash to meet operating expenses, rates of distribution, and other
matters.  These, and other forward looking statements made by the
Partnership,  must be evaluated in the context  of  a  number  of
factors that may affect the Partnership's financial condition and
results of operations, including the following:

    Market  and  economic conditions which affect the  value
    of  the  properties the Partnership owns and  the  cash
    from rental income such properties generate;

    the  federal  income tax consequences of rental  income,
    deductions,  gain  on  sales and other  items  and  the
    affects of these consequences for the Partners;

    resolution  by  the General Partners of  conflicts  with
    which they may be confronted;

    the   success  of  the  General  Partners  of   locating
    properties with favorable risk return characteristics;

    the effect of tenant defaults; and

    the  condition of the industries in which the  tenants  of
    properties owned by the Partnership operate.


The Application of Critical Accounting Policies

        The preparation of the Partnership's financial statements
requires  management to make estimates and assumptions  that  may
affect the reported amounts of assets, liabilities, revenues  and
expenses,  and  related  disclosure  of  contingent  assets   and
liabilities. Management evaluates these estimates on  an  ongoing
basis,  including  those related to the carrying  value  of  real
estate  and  the  allocation  by AEI  Fund  Management,  Inc.  of
expenses  to  the  Partnership as opposed  to  other  funds  they
manage.

        The Partnership purchases properties and records them  in
the  financial  statements  at the lower  of  cost  or  estimated
realizable   value.   The  Partnership  initially   records   the
properties  at cost (including capitalized acquisition expenses).
The Partnership is required to periodically evaluate the carrying
value  of properties to determine whether their realizable  value
has  declined.   For  properties the Partnership  will  hold  and
operate, management determines whether impairment has occurred by
comparing the property's probability-weighted cash flows  to  its
current carrying value.  For properties held for sale, management
determines  whether  impairment has  occurred  by  comparing  the
property's estimated fair value less cost to sell to its  current
carrying  value.   If  the carrying value  is  greater  than  the
realizable  value, an impairment loss is recorded to  reduce  the
carrying value of the property to its realizable value.  A change
in  these assumptions or analysis could cause material changes in
the carrying value of the properties.


ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

        AEI  Fund Management, Inc. allocates expenses to each  of
the  funds  they manage primarily on the basis of the  number  of
hours  devoted  by their employees to each fund's affairs.   They
also  allocate  expenses at the end of each month  that  are  not
directly related to a fund's operations based upon the number  of
investors  in the fund and the fund's capitalization relative  to
other  funds  they  manage.   The  Partnership  reimburses  these
expenses  subject  to  detailed  limitations  contained  in   the
Partnership Agreement.

         Management   of  the  Partnership  has   discussed   the
development  and selection of the above accounting estimates  and
the management discussion and analysis disclosures regarding them
with the managing partner of the Partnership.

Results of Operations

        For  the  years  ended December 31, 2005  and  2004,  the
Partnership  recognized rental income from continuing  operations
of  $1,401,264  and $1,299,327, respectively.   In  2005,  rental
income  increased  due  to  additional  rent  received  from  two
property  acquisitions  in  2004  and  rent  increases   on   six
properties.

        For  the  years  ended December 31, 2005  and  2004,  the
Partnership  incurred  Partnership administration  expenses  from
affiliated parties of $232,714 and $212,984, respectively.  These
administration  expenses  include  costs  associated   with   the
management of the properties, processing distributions, reporting
requirements and correspondence to the Limited Partners.   During
the   same   periods,   the  Partnership   incurred   Partnership
administration  and property management expenses  from  unrelated
parties  of  $32,379 and $22,129, respectively.   These  expenses
represent  direct payments to third parties for legal and  filing
fees,  direct  administrative costs, outside audit costs,  taxes,
insurance and other property costs.

        In  July  2003, the tenant of the Razzoo's restaurant  in
Austin,  Texas notified the Partnership that it was  experiencing
financial difficulty stemming from lower than expected sales  and
that  it  might not be able to pay future rents.  However,  rents
are  current.  In November 2004, the Partnership and  the  tenant
entered  into  an  agreement to amend the Lease  to  provide  the
tenant  with  options to purchase the property and terminate  the
Lease.   Under  the  purchase option, which expires  October  31,
2006, the tenant can elect to purchase the Partnership's interest
in  the property for $338,000.  Under the termination option, the
tenant can elect to terminate the Lease by providing no less than
six  months prior written notice and paying a termination payment
equal  to one year's rent.  The lease cannot be terminated  prior
to  October 31, 2006.  As part of this agreement, the Partnership
received  a  personal guarantee from the majority shareholder  of
the tenant for payment of the rent through October 31, 2006.   In
addition, the Partnership was reimbursed for certain expenses  it
incurred  related to legal action it pursued in  connection  with
this situation.

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

        In February 2005, Winn-Dixie Montgomery, Inc., the tenant
of  the  Winn-Dixie store in Panama City, Florida, and its parent
company,  Winn-Dixie,  Inc.,  filed  for  Chapter  11  bankruptcy
reorganization.  Rents are current and the Partnership expects to
continue  to receive all scheduled rents in future months  unless
the  Lease  is rejected by Winn-Dixie.  If the Lease is affirmed,
Winn-Dixie  must comply with all Lease terms.  If  the  Lease  is
rejected,  Winn-Dixie would be required to return  possession  of
the  property  to  the Partnership and the Partnership  would  be
responsible for real estate taxes and other costs associated with
maintaining  the  property.  The Partnership  has  evaluated  the
lease  and property value and decided that there is no impairment
loss  at this time.  At December 31, 2005, the book value of this
property was $1,607,873.

        For  the  years  ended December 31, 2005  and  2004,  the
Partnership  recognized interest income of $50,660  and  $38,083,
respectively.  In 2005, interest income increased due  to  higher
money market interest rates.

        In  accordance  with  Statement of  Financial  Accounting
Standards  No. 144, Accounting for the Impairment or Disposal  of
Long-Lived  Assets,  upon  complete disposal  of  a  property  or
classification of a property as Real Estate Held  for  Sale,  the
Partnership  includes  the operating  results  and  sale  of  the
property   in   discontinued  operations.    In   addition,   the
Partnership reclassifies the prior periods operating results  and
any  partial  sales  of the property to discontinued  operations.
For  the year ended December 31, 2005, the Partnership recognized
income  from  discontinued operations of  $733,366,  representing
rental  income less property management expenses and depreciation
of $153,409 and gain on disposal of real estate of $579,957.  For
the  year  ended  December 31, 2004, the  Partnership  recognized
income  from  discontinued operations of  $230,679,  representing
rental  income less property management expenses and depreciation
of $185,635 and gain on disposal of real estate of $45,044.

        On  November 19, 2004, the Partnership sold  its  3.3979%
interest in the Applebee's restaurant in Aurora, Colorado to  the
tenant.   The Partnership received net sale proceeds of  $77,724,
which  resulted in a net gain of $45,044.  The cost  and  related
accumulated  depreciation of the interest sold  was  $44,782  and
$12,102, respectively.

        In  July  2003, the tenant of the Razzoo's restaurant  in
Alpharetta,  Georgia  notified  the  Partnership  that   it   was
experiencing  financial  difficulty  stemming  from  lower   than
expected sales and that it might not be able to pay future rents.
In  late 2003, the tenant closed the restaurant and said that  it
no  longer  intended to operate a restaurant at  the  site.   The
Partnership  and the tenant entered into an agreement,  effective
November 1, 2004, to terminate the lease and return possession of
the  property to the Partnership.  Rents were current through the
date  of  termination.  As part of the agreement, the Partnership
was  reimbursed for certain expenses it incurred related to legal
action  it  pursued in connection with this situation.  Following
an  analysis  of the tenant's business at this location  and  its
financial condition, and its intent to no longer operate at  this
site,  the Partnership determined that the best course of  action
was to negotiate a settlement with the tenant and take possession
of   the   property.   With  possession  of  the  property,   the
Partnership  could  move forward with selling  the  property  and
reinvesting  the  proceeds from the sale in  replacement  income-
producing property.  The Partnership listed the property for sale
with  a  real  estate broker in the Alpharetta area.   While  the
property  was  vacant, the Partnership was responsible  for  real
estate taxes and other costs required to maintain the property.


ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

       Based on an analysis of market conditions in the area, the
Partnership  determined the property was impaired  in  accordance
with  the  requirements  of  Statement  of  Financial  Accounting
Standards  No. 144, Accounting for the Impairment or Disposal  of
Long-Lived Assets.  As a result, in the fourth quarter of 2003, a
charge  to discontinued operations for real estate impairment  of
$169,320  was  recognized, which was the difference  between  the
book  value  at  December 31, 2003 of $569,320 and the  estimated
fair value of $400,000.  The charge was recorded against the cost
of  the land, building and equipment.  At December 31, 2004,  the
property was classified as Real Estate Held for Sale.

         In  December  2004,  the  Partnership  entered  into  an
agreement  to  sell the property in Alpharetta  to  an  unrelated
third  party.   On  March  29, 2005, the  sale  closed  with  the
Partnership  receiving  net  sale  proceeds  of  $432,160,  which
resulted in a net gain of $32,160.

        During  the fourth quarter of 2005, the Partnership  sold
23.1409% of the Johnny Carino's restaurant in Longview, Texas, in
three  separate  transactions, to unrelated third  parties.   The
Partnership  received total net sale proceeds of $758,149,  which
resulted  in  a  net  gain of $237,562.   The  cost  and  related
accumulated  depreciation of the interests sold was $546,069  and
$25,482, respectively.

        Subsequent to December 31, 2005, the Partnership sold its
remaining 26.8591% interest in the Johnny Carino's restaurant  in
Longview,  Texas,  in three separate transactions,  to  unrelated
third  parties.  The Partnership received total net sale proceeds
of  approximately  $861,000, which resulted  in  a  net  gain  of
approximately   $256,800.   The  cost  and  related   accumulated
depreciation  of  the  interests sold was $633,809  and  $29,576,
respectively.  At December 31, 2005, the property was  classified
as Real Estate Held for Sale with a book value of $604,233.

       In October 2005, the Partnership entered into an agreement
to  sell its interest in the Applebee's restaurant in Stow,  Ohio
to  an  unrelated third party.  On November 15,  2005,  the  sale
closed  with  the  Partnership receiving  net  sale  proceeds  of
$1,835,784,  which resulted in a net gain of  $310,235.   At  the
time  of sale, the cost and related accumulated depreciation  was
$1,575,755 and $50,206, respectively.

        Inflation  has  had  a  minimal  effect  on  income  from
operations.   Leases  may contain rent increases,  based  on  the
increase  in  the  Consumer Price Index over a specified  period,
which  will result in an increase in rental income over the  term
of  the  leases.   In addition, leases may contain  rent  clauses
which  entitle  the  Partnership to receive  additional  rent  in
future  years  if gross receipts for the property exceed  certain
specified  amounts.  Increases in sales volumes of  the  tenants,
due to inflation and real sales growth, may result in an increase
in rental income over the term of the leases.  Inflation also may
cause the real estate to appreciate in value.  However, inflation
and  changing prices may have an adverse impact on the  operating
margins  of  the  properties' tenants, which could  impair  their
ability  to  pay rent and subsequently reduce the Net  Cash  Flow
available for distributions.

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

Liquidity and Capital Resources

       During the year ended December 31, 2005, the Partnership's
cash  balances increased $2,766,287 as a result of cash generated
from  the  sale  of  property,  which  was  partially  offset  by
distributions  paid to the Partners in excess of  cash  generated
from  operating activities.  During the year ended  December  31,
2004, the Partnership's cash balances decreased $6,985,386  as  a
result  of cash used to purchase property and distributions  paid
to  the  Partners  in  excess of cash  generated  from  operating
activities.

        Net  cash provided by operating activities increased from
$1,259,651  in  2004 to $1,395,328 in 2005 as the  result  of  an
increase  in  total rental and interest income in  2005  and  net
timing differences in the collection of payments from the tenants
and  the payment of expenses, which were partially offset  by  an
increase  in  Partnership administration and property  management
expenses in 2005.

        The  major components of the Partnership's cash flow from
investing activities are investments in real estate and  proceeds
from the sale of real estate.  During the year ended December 31,
2004,  the  Partnership expended $5,890,760  to  invest  in  real
properties   (inclusive   of  acquisition   expenses),   as   the
Partnership  reinvested  cash generated from  property  sales  in
2003.   During  the years ended December 31, 2005 and  2004,  the
Partnership generated cash flow from the sale of real  estate  of
$3,026,093 and $77,724, respectively.

        On  February  5,  2004, the Partnership purchased  a  50%
interest  in  a  Jared  Jewelry store in Lakewood,  Colorado  for
$2,017,603.   The  property is leased to Sterling  Jewelers  Inc.
under  a  Lease  Agreement with a primary term of  20  years  and
annual  rental payments of $155,219.  The remaining  interest  in
the  property was purchased by AEI Real Estate Fund XVIII Limited
Partnership, an affiliate of the Partnership.

        On  April  30,  2004,  the Partnership  purchased  a  50%
interest   in  an  Applebee's  restaurant  in  Stow,   Ohio   for
$1,575,755.   The property is leased to Apple Ohio  LLC  under  a
Lease Agreement with a primary term of 20 years and annual rental
payments of $120,043.  The remaining interest in the property was
purchased by AEI Real Estate Fund XVIII Limited Partnership.

        On May 10, 2004, the Partnership purchased a 50% interest
in  an Eckerd drug store in Auburn, New York for $2,287,291.  The
property  is leased to Eckerd Corporation under a Lease Agreement
with  a  primary term of 20 years and annual rental  payments  of
$184,753.   The remaining interest in the property was  purchased
by AEI Real Estate Fund XVIII Limited Partnership.

       Subsequent to December 31, 2005, the Partnership purchased
an Advance Auto Parts store in Harlingen, Texas for approximately
$1,561,900.   The  property is leased to Advance Stores  Company,
Inc.  under  a Lease Agreement with a remaining primary  term  of
14.4 years and annual rental payments of $111,210.

ITEM 6.   MANAGEMENT'S DISCUSSION AND ANALYSIS.  (Continued)

       Subsequent to December 31, 2005, the Partnership purchased
a  50%  interest in a Tractor Supply Company store  in  Mesquite,
Texas  for  approximately $1,214,800.  The property is leased  to
Tractor  Supply Company under a Lease Agreement with a  remaining
primary  term of 7.4 years and annual rental payments of $87,258.
The  remaining interest in the property was purchased by AEI  Net
Lease  Income & Growth Fund XX Limited Partnership, an  affiliate
of the Partnership.

        The  Partnership's primary use of cash flow,  other  than
investment   in  real  estate,  is  distribution  and  redemption
payments  to  Partners.   The Partnership  declares  its  regular
quarterly distributions before the end of each quarter  and  pays
the distribution in the first week after the end of each quarter.
The  Partnership attempts to maintain a stable distribution  rate
from  quarter  to  quarter.   Redemption  payments  are  paid  to
redeeming Partners in the fourth quarter of each year.

        For  the  years  ended December 31, 2005  and  2004,  the
Partnership  declared distributions of $1,886,139 and $1,769,646,
respectively, which were distributed 99% to the Limited  Partners
and  1%  to the General Partners.  The Limited Partners  received
distributions  of  $1,867,278  and  $1,751,949  and  the  General
Partners  received distributions of $18,861 and $17,697  for  the
periods,   respectively.   In  December  2004,  the   Partnership
declared  a  special  distribution  of  $313,131  of  net   sales
proceeds.   In December 2005, the Partnership declared a  special
distribution of $419,192 of net sales proceeds, which resulted in
a  higher distributions in 2005 and a higher distribution payable
at December 31, 2005.

       During 2005 and 2004, the Partnership distributed $497,297
and  $455,461  of  net sale proceeds to the Limited  and  General
Partners   as  part  of  their  quarterly  distributions,   which
represented a return of capital of $24.27 and $22.20 per  Limited
Partnership Unit, respectively.  The Partnership anticipates  the
remaining  net  sale  proceeds  will  either  be  reinvested   in
additional property or distributed to the Partners in the future.

        The  Partnership may acquire Units from Limited  Partners
who  have tendered their Units to the Partnership. Such Units may
be  acquired at a discount.  The Partnership is not obligated  to
purchase  in  any  year  more than 5%  of  the  number  of  Units
outstanding at the beginning of the year.  In no event shall  the
Partnership  be  obligated to purchase  Units  if,  in  the  sole
discretion  of the Managing General Partner, such purchase  would
impair the capital or operation of the Partnership.

       During 2005, the Partnership did not redeem any Units from
the   Limited  Partners.   Duing  2004,  seven  Limited  Partners
redeemed  a  total  of  69.5 Partnership  Units  for  $27,153  in
accordance  with  the  Partnership  Agreement.   The  Partnership
acquired  these  Units using Net Cash Flow from  operations.   In
prior  years,  a  total  of 70 Limited Partners  redeemed  796.64
Partnership  Units  for $530,473.  The redemptions  increase  the
remaining   Limited   Partners'   ownership   interest   in   the
Partnership.   As  a  result  of these  redemption  payments  and
pursuant  to  the  Partnership Agreement,  the  General  Partners
received distributions of $274 in 2004.

       The continuing rent payments from the properties, together
with  cash  generated from property sales, should be adequate  to
fund   continuing   distributions  and  meet  other   Partnership
obligations on both a short-term and long-term basis.


ITEM 7.   FINANCIAL STATEMENTS.

       See accompanying index to financial statements.





   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP

                  INDEX TO FINANCIAL STATEMENTS






Report of Independent Registered Public Accounting Firm

Balance Sheet as of December 31, 2005 and 2004

Statements for the Years Ended December 31, 2005 and 2004:

     Income

     Cash Flows

     Changes in Partners' Capital

Notes to Financial Statements







     REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM




To the Partners:
AEI Net Lease Income & Growth Fund XIX Limited Partnership
St. Paul, Minnesota




      We  have audited the accompanying balance sheet of AEI  Net
Lease  Income & Growth Fund XIX Limited Partnership (a  Minnesota
limited  partnership) as of December 31, 2005 and 2004,  and  the
related statements of income, cash flows and changes in partners'
capital for the years then ended.  These financial statements are
the   responsibility  of  the  Partnership's   management.    Our
responsibility  is  to  express an  opinion  on  these  financial
statements based on our audits.

      We conducted our audits in accordance with the standards of
the  Public  Company Accounting Oversight Board (United  States).
Those  standards require that we plan and perform  the  audit  to
obtain   reasonable   assurance  about  whether   the   financial
statements are free of material misstatement.  An audit  includes
examining,  on a test basis, evidence supporting the amounts  and
disclosures in the financial statements.  An audit also  includes
assessing   the   accounting  principles  used  and   significant
estimates  made by management, as well as evaluating the  overall
financial  statement presentation.  We believe  that  our  audits
provide a reasonable basis for our opinion.

      In  our opinion, the financial statements referred to above
present  fairly, in all material respects, the financial position
of  AEI Net Lease Income & Growth Fund XIX Limited Partnership as
of  December 31, 2005 and 2004, and the results of its operations
and  its cash flows for the years then ended, in conformity  with
U.S. generally accepted accounting principles.




                        /s/ Boulay, Heutmaker, Zibell & Co. P.L.L.P.
                                Certified Public Accountants

Minneapolis, Minnesota
January 27, 2006


<PAGE>
   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                          BALANCE SHEET
                           DECEMBER 31

                             ASSETS

                                                   2005           2004
CURRENT ASSETS:
  Cash and Cash Equivalents                     $ 3,845,555   $ 1,079,268
  Receivables                                         2,232        14,351
  Note Receivable                                         0       124,829
                                                 -----------   -----------
      Total Current Assets                        3,847,787     1,218,448
                                                 -----------   -----------
INVESTMENTS IN REAL ESTATE:
  Land                                            5,139,711     6,065,131
  Buildings and Equipment                         8,607,029    10,437,242
  Accumulated Depreciation                       (1,254,001)   (1,023,042)
                                                 -----------   -----------
                                                 12,492,739    15,479,331
  Real Estate Held for Sale                         604,233       400,000
                                                 -----------   -----------
      Net Investments in Real Estate             13,096,972    15,879,331
                                                 -----------   -----------
           Total  Assets                        $16,944,759   $17,097,779
                                                 ===========   ===========

                     LIABILITIES AND PARTNERS' CAPITAL

CURRENT LIABILITIES:
  Payable to AEI Fund Management, Inc.          $    34,857   $    40,491
  Distributions Payable                             772,803       666,627
                                                 -----------   -----------
      Total Current Liabilities                     807,660       707,118
                                                 -----------   -----------
PARTNERS' CAPITAL:
  General Partners                                   25,313        27,848
  Limited Partners, $1,000 per Unit;
   30,000 Units authorized; 21,152 Units issued;
   20,286  Units outstanding in 2005 and 2004    16,111,786    16,362,813
                                                 -----------   -----------
      Total Partners' Capital                    16,137,099    16,390,661
                                                 -----------   -----------
        Total Liabilities and Partners' Capital $16,944,759   $17,097,779
                                                 ===========   ===========

 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                       STATEMENT OF INCOME
                 FOR THE YEARS ENDED DECEMBER 31


                                                      2005          2004

RENTAL INCOME                                     $ 1,401,264   $ 1,299,327

EXPENSES:
  Partnership Administration - Affiliates             232,714       212,984
  Partnership Administration and Property
     Management - Unrelated Parties                    32,379        22,129
  Depreciation                                        287,620       265,949
                                                   -----------   -----------
      Total Expenses                                  552,713       501,062
                                                   -----------   -----------

OPERATING INCOME                                      848,551       798,265

OTHER INCOME:
  Interest Income                                      50,660        38,083
                                                   -----------   -----------

INCOME FROM CONTINUING OPERATIONS                     899,211       836,348

Income from Discontinued Operations                   733,366       230,679
                                                   -----------   -----------
NET INCOME                                        $ 1,632,577   $ 1,067,027
                                                   ===========   ===========
NET INCOME ALLOCATED:
  General Partners                                $    16,326   $    10,670
  Limited Partners                                  1,616,251     1,056,357
                                                   -----------   -----------
                                                  $ 1,632,577   $ 1,067,027
                                                   ===========   ===========
INCOME PER LIMITED PARTNERSHIP UNIT:
  Continuing Operations                           $     43.88   $     40.71
  Discontinued Operations                               35.79         11.23
                                                   -----------   -----------
      Total                                       $     79.67   $     51.94
                                                   ===========   ===========
Weighted Average Units Outstanding                     20,286        20,338
                                                   ===========   ===========

 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
        AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                     STATEMENT OF CASH FLOWS
                 FOR THE YEARS ENDED DECEMBER 31

                                                       2005          2004
CASH FLOWS FROM OPERATING ACTIVITIES:
  Net Income                                       $ 1,632,577   $ 1,067,027

  Adjustments To Reconcile Net Income
 To Net Cash Provided By Operating Activities:
     Depreciation                                      336,223       319,629
     Gain on Sale of Real Estate                      (579,957)      (45,044)
     (Increase) Decrease in Receivables                 12,119       (12,131)
     Decrease in Payable to
        AEI Fund Management, Inc.                       (5,634)      (69,830)
                                                    -----------   -----------
       Total Adjustments                              (237,249)      192,624
                                                    -----------   -----------
       Net Cash Provided By
           Operating Activities                      1,395,328     1,259,651
                                                    -----------   -----------
CASH FLOWS FROM INVESTING ACTIVITIES:
  Investments in Real Estate                                 0    (5,890,760)
  Proceeds from Sale of Real Estate                  3,026,093        77,724
  Payments Received on Notes Receivable                124,829         3,038
                                                    -----------   -----------
       Net Cash Provided By (Used For)
           Investing Activities                      3,150,922    (5,809,998)
                                                    -----------   -----------
CASH FLOWS FROM FINANCING ACTIVITIES:
   Increase (Decrease) in Distributions Payable        106,176      (637,966)
   Distributions to Partners                        (1,886,139)   (1,769,646)
   Redemption Payments                                       0       (27,427)
                                                    -----------   -----------
       Net Cash Used For
         Financing Activities                       (1,779,963)   (2,435,039)
                                                    -----------   -----------
NET INCREASE (DECREASE) IN CASH
   AND CASH EQUIVALENTS                              2,766,287    (6,985,386)

CASH AND CASH EQUIVALENTS, beginning of period       1,079,268     8,064,654
                                                    -----------   -----------
CASH AND CASH EQUIVALENTS, end of period           $ 3,845,555   $ 1,079,268
                                                    ===========   ===========

 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
     AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
            STATEMENT OF CHANGES IN PARTNERS' CAPITAL
                 FOR THE YEARS ENDED DECEMBER 31


                                                                 Limited
                                                               Partnership
                             General   Limited                    Units
                             Partners  Partners      Total     Outstanding


BALANCE, December 31, 2003 $ 35,149   $17,085,558  $17,120,707   20,355.29

  Distributions             (17,697)   (1,751,949)  (1,769,646)

  Redemption Payments          (274)      (27,153)     (27,427)     (69.50)

  Net Income                 10,670     1,056,357    1,067,027
                            --------   -----------  ----------- -----------
BALANCE, December 31, 2004   27,848    16,362,813   16,390,661   20,285.79

  Distributions             (18,861)   (1,867,278)  (1,886,139)

  Net Income                 16,326     1,616,251    1,632,577
                            --------   -----------  ----------- -----------
BALANCE, December 31, 2005 $ 25,313   $16,111,786  $16,137,099   20,285.79
                            ========   ===========  =========== ===========

 The accompanying Notes to Financial Statements are an integral
                     part of this statement.
</PAGE>
<PAGE>
      AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(1)  Organization -

     AEI  Net  Lease Income & Growth Fund XIX Limited Partnership
     (Partnership)  was  formed to acquire and  lease  commercial
     properties   to   operating  tenants.    The   Partnership's
     operations  are  managed by AEI Fund  Management  XIX,  Inc.
     (AFM), the Managing General Partner.  Robert P. Johnson, the
     President and sole director of AFM, serves as the Individual
     General  Partner.  AFM is a wholly owned subsidiary  of  AEI
     Capital  Corporation of which Mr. Johnson  is  the  majority
     shareholder.  AEI Fund Management, Inc. (AEI), an  affiliate
     of  AFM, performs the administrative and operating functions
     for the Partnership.

     The   terms  of  the  Partnership  offering  called  for   a
     subscription  price of $1,000 per Limited Partnership  Unit,
     payable   on  acceptance  of  the  offer.   The  Partnership
     commenced   operations  on  May  31,   1991   when   minimum
     subscriptions    of   1,500   Limited   Partnership    Units
     ($1,500,000)   were   accepted.   The  offering   terminated
     February  5, 1993 when the extended offering period expired.
     The   Partnership  received  subscriptions  for   21,151.928
     Limited  Partnership Units.  Under the terms of the  Limited
     Partnership  Agreement,  the Limited  Partners  and  General
     Partners  contributed  funds  of  $21,151,928,  and  $1,000,
     respectively.

     During operations, any Net Cash Flow, as defined, which  the
     General Partners determine to distribute will be distributed
     90% to the Limited Partners and 10% to the General Partners;
     provided,  however, that such distributions to  the  General
     Partners will be subordinated to the Limited Partners  first
     receiving an annual, noncumulative distribution of Net  Cash
     Flow equal to 10% of their Adjusted Capital Contribution, as
     defined,  and, provided further, that in no event  will  the
     General Partners receive less than 1% of such Net Cash  Flow
     per  annum.  Distributions to Limited Partners will be  made
     pro rata by Units.

     Any  Net  Proceeds  of Sale, as defined, from  the  sale  or
     financing of properties which the General Partners determine
     to distribute will, after provisions for debts and reserves,
     be  paid  in  the following manner: (i) first,  99%  to  the
     Limited  Partners and 1% to the General Partners  until  the
     Limited  Partners  receive an amount  equal  to:  (a)  their
     Adjusted  Capital Contribution plus (b) an amount  equal  to
     12%  of  their  Adjusted  Capital  Contribution  per  annum,
     cumulative  but not compounded, to the extent not previously
     distributed  from Net Cash Flow; (ii) any remaining  balance
     will  be distributed 90% to the Limited Partners and 10%  to
     the General Partners.  Distributions to the Limited Partners
     will be made pro rata by Units.

     For  tax  purposes,  profits  from  operations,  other  than
     profits  attributable  to  the  sale,  exchange,  financing,
     refinancing  or  other  disposition  of  property,  will  be
     allocated  first  in the same ratio in  which,  and  to  the
     extent,  Net  Cash Flow is distributed to the  Partners  for
     such year.  Any additional profits will be allocated in  the
     same  ratio  as  the  last  dollar  of  Net  Cash  Flow   is
     distributed.   Net losses from operations will be  allocated
     98% to the Limited Partners and 2% to the General Partners.


   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(1)  Organization - (Continued)

     For  tax purposes, profits arising from the sale, financing,
     or  other  disposition  of property  will  be  allocated  in
     accordance  with the Partnership Agreement as  follows:  (i)
     first,  to  those  partners with deficit balances  in  their
     capital  accounts  in an amount equal to  the  sum  of  such
     deficit  balances; (ii) second, 99% to the Limited  Partners
     and  1%  to the General Partners until the aggregate balance
     in  the Limited Partners' capital accounts equals the sum of
     the Limited Partners' Adjusted Capital Contributions plus an
     amount  equal to 12% of their Adjusted Capital Contributions
     per  annum, cumulative but not compounded, to the extent not
     previously  allocated;  (iii)  third,  the  balance  of  any
     remaining  gain  will then be allocated 90% to  the  Limited
     Partners  and 10% to the General Partners.  Losses  will  be
     allocated 98% to the Limited Partners and 2% to the  General
     Partners.

     The  General Partners are not required to currently  fund  a
     deficit   capital   balance.   Upon   liquidation   of   the
     Partnership or withdrawal by a General Partner, the  General
     Partners will contribute to the Partnership an amount  equal
     to  the  lesser  of  the deficit balances in  their  capital
     accounts  or  1%  of  total Limited  Partners'  and  General
     Partners' capital contributions.

(2)  Summary of Significant Accounting Policies -

     Financial Statement Presentation

       The  accounts  of  the Partnership are maintained  on  the
       accrual  basis of accounting for both federal  income  tax
       purposes and financial reporting purposes.

     Accounting Estimates

       Management  uses  estimates and assumptions  in  preparing
       these  financial statements in accordance  with  generally
       accepted  accounting  principles.   Those  estimates   and
       assumptions may affect the reported amounts of assets  and
       liabilities,  the  disclosure  of  contingent  assets  and
       liabilities,  and  the  reported  revenues  and  expenses.
       Actual results could differ from those estimates.

       The  Partnership regularly assesses whether market  events
       and conditions indicate that it is reasonably possible  to
       recover  the carrying amounts of its investments  in  real
       estate  from  future operations and sales.   A  change  in
       those  market events and conditions could have a  material
       effect on the carrying amount of its real estate.

     Cash Concentrations of Credit Risk

       The  Partnership's  cash  is deposited  primarily  in  one
       financial institution and at times during the year it  may
       exceed FDIC insurance limits.

   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(2)  Summary of Significant Accounting Policies - (Continued)

     Statement of Cash Flows

       For  purposes  of  reporting cash  flows,  cash  and  cash
       equivalents  may include cash in checking,  cash  invested
       in   money   market  accounts,  certificates  of  deposit,
       federal  agency notes and commercial paper with a term  of
       three months or less.

     Receivables

       Credit  terms are extended to tenants in the normal course
       of  business.   The  Partnership performs  ongoing  credit
       evaluations  of  its customers' financial  condition  and,
       generally, requires no collateral.

       Receivables   are   recorded  at   their   estimated   net
       realizable  value.  The Partnership follows  a  policy  of
       providing  an  allowance for doubtful  accounts;  however,
       based on historical experience, and its evaluation of  the
       current status of receivables, the Partnership is  of  the
       belief  that  such  accounts will be  collectible  in  all
       material  respects and thus an allowance is not necessary.
       Accounts  are considered past due if payment is  not  made
       on  a  timely  basis in accordance with the  Partnership's
       credit  terms.   Receivables considered uncollectible  are
       written off.

     Income Taxes

       The  income or loss of the Partnership for federal  income
       tax  reporting  purposes is includable in the  income  tax
       returns  of the partners.  In general, no recognition  has
       been  given to income taxes in the accompanying  financial
       statements.

       The   tax   return   and  the  amount   of   distributable
       Partnership  income or loss are subject to examination  by
       federal   and  state  taxing  authorities.   If  such   an
       examination    results   in   changes   to   distributable
       Partnership  income  or loss, the taxable  income  of  the
       partners would be adjusted accordingly.

     Real Estate

       The  Partnership's real estate is leased under triple  net
       leases   classified  as  operating  leases.   The   leases
       provide  for  base  annual  rental  payments  payable   in
       monthly  installments.  The Partnership recognizes  rental
       revenue  according to the terms of the individual  leases.
       For  leases  which  contain stated rental  increases,  the
       increases  are  recognized in the year in which  they  are
       effective.   Contingent  rental  payments  are  recognized
       when  the  contingencies on which the payments  are  based
       are  satisfied  and the rental payments become  due  under
       the terms of the leases.

   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(2)  Summary of Significant Accounting Policies - (Continued)

       Real  estate is recorded at the lower of cost or estimated
       net   realizable  value.   The  Partnership  compares  the
       carrying   amount  of  its  properties  to  the  estimated
       probability-weighted future cash flows expected to  result
       from  the property and its eventual disposition.   If  the
       sum  of  the expected future cash flows is less  than  the
       carrying   amount   of  the  property,   the   Partnership
       recognizes an impairment loss by the amount by  which  the
       carrying amount of the property exceeds the fair value  of
       the property.

       The  Partnership  has capitalized as Investments  in  Real
       Estate   certain   costs  incurred  in  the   review   and
       acquisition  of the properties.  The costs were  allocated
       to the land, buildings and equipment.

       The   buildings  and  equipment  of  the  Partnership  are
       depreciated  using the straight-line method for  financial
       reporting purposes based on estimated useful lives  of  30
       years and 10 years, respectively.

       In  accordance  with  Statement  of  Financial  Accounting
       Standards  No.  144,  Accounting  for  the  Impairment  or
       Disposal  of Long-Lived Assets, upon complete disposal  of
       a  property or classification of a property as Real Estate
       Held  for  Sale,  the Partnership includes  the  operating
       results   and   sale  of  the  property  in   discontinued
       operations.   In  addition,  the Partnership  reclassifies
       the  prior periods operating results and any partial sales
       of the property to discontinued operations.

       The  Partnership accounts for properties owned as tenants-
       in-common  with  affiliated Partnerships and/or  unrelated
       third   parties   using  the  proportionate  consolidation
       method.   Each tenant-in-common owns a separate, undivided
       interest  in  the  properties.  Any tenant-in-common  that
       holds  more than a 50% interest does not control decisions
       over  the other tenant-in-common interests.  The financial
       statements  reflect  only  this  Partnership's  percentage
       share  of  the  properties' land, building and  equipment,
       liabilities, revenues and expenses.

       The  Partnership's properties are subject to environmental
       laws  and  regulations  adopted  by  various  governmental
       entities  in the jurisdiction in which the properties  are
       located.   These  laws could require  the  Partnership  to
       investigate  and remediate the effects of the  release  or
       disposal  of  hazardous materials at  these  locations  if
       found.  For each property, an environmental assessment  is
       completed  prior to acquisition.  In addition,  the  lease
       agreements  typically  strictly prohibit  the  production,
       handling, or storage of hazardous materials (except  where
       incidental  to  the  tenant's  business  such  as  use  of
       cleaning  supplies)  in violation  of  applicable  law  to
       restrict  environmental and other  damage.   Environmental
       liabilities  are  recorded  when  it  is  determined   the
       liability  is  probable and the costs  can  reasonably  be
       estimated.   There were no environmental issues  noted  or
       liabilities recorded at December 31, 2005 and 2004.

   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(2)  Summary of Significant Accounting Policies - (Continued)

     Reclassification

       Certain  items  in  the prior year's financial  statements
       have  been  reclassified to conform to 2005  presentation.
       These   reclassifications  had  no  effect  on   Partners'
       capital, net income or cash flows.

     Newly Issued Pronouncements

       The    Partnership   has   considered    the    accounting
       pronouncements  issued  after  December   2004   and   has
       determined that none of these pronouncements will  have  a
       material impact on its financial statements.

(3)  Related Party Transactions -

     The   Partnership  owns  a  40%  interest  in  a  Tumbleweed
     restaurant in Chillicothe, Ohio.  The remaining interests in
     this  property  are  owned by AEI  Real  Estate  Fund  XVIII
     Limited Partnership, an affiliate of the Partnership, and an
     unrelated third party.  The Partnership owns a 13%  interest
     in  a  Razzoo's restaurant in Austin, Texas.  The  remaining
     interests in this property are owned by AEI Real Estate Fund
     XV  Limited  Partnership, AEI Real Estate Fund XVII  Limited
     Partnership,  and  AEI  Income & Growth  Fund  XXII  Limited
     Partnership, affiliates of the Partnership.  The Partnership
     owns  a  28%  interest in a Champps Americana restaurant  in
     Utica,  Michigan.  The remaining interests in this  property
     are  owned by AEI Net Lease Income & Growth Fund XX  Limited
     Partnership, an affiliate of the Partnership, and  unrelated
     third   parties.    AEI  Real  Estate  Fund   XVII   Limited
     Partnership owned a 28% interest in this property until  the
     interest was sold, in a series of transactions, to unrelated
     third parties in 2004 and 2005.  The Partnership owns a  50%
     interest  in a Biaggi's restaurant.  The remaining  interest
     in  this property is owned by AEI Net Lease Income &  Growth
     Fund  XX  Limited Partnership.  The Partnership owns  a  37%
     interest in a Winn-Dixie store.  The remaining interests  in
     this  property  are owned by AEI Income &  Growth  Fund  XXI
     Limited  Partnership, an affiliate of the  Partnership,  and
     unrelated  third  parties.  As of  December  31,  2005,  the
     Partnership  owns a 26.8591% interest in a  Johnny  Carino's
     restaurant  in Longview, Texas.  The remaining interests  in
     this  property  are owned by unrelated third  parties.   AEI
     Real  Estate  Fund  XVII  Limited Partnership  owned  a  50%
     interest in this property until the interest was sold, in  a
     series of transactions, to unrelated third parties in  2005.
     The Partnership owns a 50% interest in a Jared Jewelry store
     and  a  50% interest in an Eckerd drug store.  The remaining
     interests  in these properties are owned by AEI Real  Estate
     Fund XVIII Limited Partnership.

   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(3)  Related Party Transactions - (Continued)

     The   Partnership  owned  a  16%  interest  in  a   Razzoo's
     restaurant in Alpharetta, Georgia.  The remaining  interests
     in  this  property were owned by AEI Real Estate Fund  XVIII
     Limited Partnership, AEI Income & Growth Fund 23 LLC and AEI
     Private  Net  Lease  Millennium  Fund  Limited  Partnership,
     affiliates of the Partnership.  The Partnership owned a  50%
     interest  in  an Applebee's restaurant in Stow,  Ohio.   The
     remaining  interest in this property was owned by  AEI  Real
     Estate Fund XVIII Limited Partnership.

     AEI   and  AFM  received  the  following  compensation   and
     reimbursements for costs and expenses from the Partnership:

                                    Total Incurred by the Partnership
                                     for the Years Ended December 31

                                                 2005          2004
a.AEI and AFM are reimbursed for all costs
  incurred in connection with managing the
  Partnership's operations, maintaining the
  Partnership's books and communicating
  the results of operations to the Limited
  Partners.                                    $ 232,714      $ 212,984
                                                ========       ========
b.AEI and AFM are reimbursed for all direct
  expenses they have paid on the Partnership's
  behalf to third parties relating to Partnership
  administration and property management.
  These expenses included printing costs, legal
  and filing fees, direct administrative costs,
  outside audit costs, taxes, insurance and
  other property costs.                        $  36,131      $  25,422
                                                ========       ========
c.AEI is reimbursed for all costs and direct
  expenses incurred by it in acquiring properties
  on behalf of the Partnership.  The amounts are net
  of financing and commitment fees and expense
  reimbursements received by the Partnership from
  the sellers and/or tenants in the amount of
  $2,948 for 2004.                             $       0      $ 107,887
                                                ========       ========
d.AEI is reimbursed for all costs incurred in
  connection with the sale of property.        $  81,234      $      64
                                                ========       ========


   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(3)  Related Party Transactions - (Continued)

     The  payable  to  AEI Fund Management, Inc.  represents  the
     balance  due for the services described in 3a, b, c  and  d.
     This balance is non-interest bearing and unsecured and is to
     be paid in the normal course of business.

(4)  Investments in Real Estate -

     The  Partnership  leases its properties to  various  tenants
     under  triple net leases, which are classified as  operating
     leases.  Under a triple net lease, the tenant is responsible
     for  all  real estate taxes, insurance, maintenance, repairs
     and  operating expenses of the property.  The only exception
     is  under  the lease for the Advance Auto Parts  store,  the
     Company   is  responsible  for  repairs  to  the  structural
     components  of the building, except for the roof,  which  is
     the  tenant's  responsibility.  At the time  the  properties
     were  acquired, the remaining primary Lease term varied from
     13  to 20 years.  The Leases provide the tenants with two to
     five five-year renewal options subject to the same terms and
     conditions  as  the primary term.  The Leases  contain  rent
     clauses  which entitle the Partnership to receive additional
     rent  in future years based on stated rent increases  or  if
     gross  receipts  for the property exceed  certain  specified
     amounts, among other conditions.

     Certain  tenants have been granted options to  purchase  the
     property  at  a formula price.  In many of the  leases,  the
     option  price  is  stated to be the  greater  of  the  price
     determined by the stated formula or the fair market value of
     the  property  as agreed upon by the parties  or  determined
     based  on  appraisals.   In general, the  formula  price  is
     determined in one of two ways.  Under the first, the  option
     price  is  the  original  purchase  price  of  the  property
     increased  by  a  specified percentage per year,  compounded
     annually.   Under the second, the option price is determined
     by  dividing the annual rent at the time the purchase option
     is exercised by a percentage.  Based on the scheduled annual
     rent  under  the  lease, the resulting  option  price  would
     always  be  greater than the original purchase  price.   The
     actual  sale price of a property to a tenant may or may  not
     exceed   original  cost  depending  on  market   and   other
     conditions.

   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(4)  Investments in Real Estate - (Continued)

     The  Partnership's properties are commercial,  single-tenant
     buildings.   The  Champps  Americana  restaurant  in   Troy,
     Michigan and the Tumbleweed restaurant were constructed  and
     acquired  in  1998.   The Marie Callender's  restaurant  was
     constructed in 1998 and acquired in 1999.  The land for  the
     Razzoo's restaurant was acquired in 2000 and construction of
     the  restaurant  was completed in 2001.  The  land  for  the
     Champps Americana restaurant in Utica, Michigan was acquired
     in  2001 and construction of the restaurant was completed in
     2002.   The Biaggi's restaurant was constructed in 2001  and
     acquired  in 2003.  The Winn-Dixie store was constructed  in
     1997  and  acquired in 2003.  The Johnny Carino's restaurant
     in  Longview, Texas was constructed in 1999 and acquired  in
     2003.   The Johnny Carino's restaurant in Brownsville, Texas
     was  constructed  and acquired in 2003.  The  Jared  Jewelry
     store  was  constructed in 2003 and acquired in  2004.   The
     Eckerd drug store was constructed and acquired in 2004.  The
     remaining properties were constructed and acquired in either
     1992  or  1993.   There  have been no costs  capitalized  as
     improvements subsequent to the acquisitions.  The tenant  of
     the Applebee's restaurant in Crestwood, Missouri has entered
     into  a separate agreement with an unrelated third party  to
     lease the land on which the building is situated.

     The  cost  of  the properties not held for sale and  related
     accumulated  depreciation  at  December  31,  2005  are   as
     follows:
                                           Buildings and          Accumulated
   Property                         Land     Equipment     Total  Depreciation

Taco Cabana, San Antonio, TX   $   598,533  $  548,741  $ 1,147,274 $  258,279
Taco Cabana, Waco, TX                7,788      11,933       19,721      5,532
Applebee's, Crestwood, MO                0     803,418      803,418    353,430
HomeTown Buffet, Tucson, AZ         15,314      13,104       28,418      5,479
Applebee's, Temple Terrace, FL      44,568      51,694       96,262     22,845
Champps Americana, Troy, MI            256         532          788        133
Tumbleweed, Chillicothe, OH        206,725     298,499      505,224     75,833
Marie Callender's, Henderson, NV    18,209      25,933       44,142      5,401
Razzoo's, Austin, TX               175,141     242,798      417,939     37,930
Champps Americana, Utica, MI       346,554     617,320      963,874     83,312
Biaggi's, Ft. Wayne, IN            503,205     876,142    1,379,347     73,012
Winn-Dixie, Panama City, FL        338,850   1,373,979    1,712,829    104,956
Johnny Carino's, Brownsville, TX 1,035,895   1,286,715    2,322,610     85,782
Jared Jewelry, Lakewood, CO        933,756   1,083,847    2,017,603     67,740
Eckerd, Auburn, NY                 914,917   1,372,374    2,287,291     74,337
                                -----------  ----------  ----------- ---------
                               $ 5,139,711  $8,607,029  $13,746,740 $1,254,001
                                ===========  ==========  =========== =========

   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(4)  Investments in Real Estate - (Continued)

     On  February  5,  2004,  the  Partnership  purchased  a  50%
     interest in a Jared Jewelry store in Lakewood, Colorado  for
     $2,017,603.   The  property is leased to  Sterling  Jewelers
     Inc. under a Lease Agreement with a primary term of 20 years
     and annual rental payments of $155,219.

     On May 10, 2004, the Partnership purchased a 50% interest in
     an  Eckerd  drug  store in Auburn, New York for  $2,287,291.
     The  property is leased to Eckerd Corporation under a  Lease
     Agreement with a primary term of 20 years and annual  rental
     payments of $184,753.

     Subsequent  to December 31, 2005, the Partnership  purchased
     an   Advance  Auto  Parts  store  in  Harlingen,  Texas  for
     approximately $1,561,900.  The property is leased to Advance
     Stores  Company,  Inc.  under  a  Lease  Agreement  with   a
     remaining  primary  term  of 14.4 years  and  annual  rental
     payments of $111,210.

     Subsequent to December 31, 2005, the Partnership purchased a
     50%  interest in a Tractor Supply Company store in Mesquite,
     Texas  for approximately $1,214,800.  The property is leased
     to  Tractor  Supply Company under a Lease Agreement  with  a
     remaining  primary  term  of 7.4  years  and  annual  rental
     payments of $87,258.  The remaining interest in the property
     was  purchased  by  AEI Net Lease Income &  Growth  Fund  XX
     Limited Partnership, an affiliate of the Partnership.

     In  July  2003,  the  tenant of the Razzoo's  restaurant  in
     Austin,   Texas  notified  the  Partnership  that   it   was
     experiencing financial difficulty stemming from  lower  than
     expected  sales and that it might not be able to pay  future
     rents.   However, rents are current.  In November 2004,  the
     Partnership  and  the tenant entered into  an  agreement  to
     amend  the  Lease  to  provide the tenant  with  options  to
     purchase  the property and terminate the Lease.   Under  the
     purchase option, which expires October 31, 2006, the  tenant
     can  elect  to  purchase the Partnership's interest  in  the
     property  for $338,000.  Under the termination  option,  the
     tenant can elect to terminate the Lease by providing no less
     than   six   months  prior  written  notice  and  paying   a
     termination  payment equal to one year's  rent.   The  lease
     cannot be terminated prior to October 31, 2006.  As part  of
     this   agreement,  the  Partnership  received   a   personal
     guarantee  from the majority shareholder of the  tenant  for
     payment  of the rent through October 31, 2006.  In addition,
     the  Partnership  was  reimbursed for  certain  expenses  it
     incurred  related to legal action it pursued  in  connection
     with this situation.

   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(4)  Investments in Real Estate - (Continued)

     In February 2005, Winn-Dixie Montgomery, Inc., the tenant of
     the Winn-Dixie store in Panama City, Florida, and its parent
     company,  Winn-Dixie, Inc., filed for Chapter 11  bankruptcy
     reorganization.   Rents  are  current  and  the  Partnership
     expects to continue to receive all scheduled rents in future
     months  unless the Lease is rejected by Winn-Dixie.  If  the
     Lease  is  affirmed, Winn-Dixie must comply with  all  Lease
     terms.   If  the  Lease  is rejected,  Winn-Dixie  would  be
     required  to  return  possession  of  the  property  to  the
     Partnership  and  the Partnership would be  responsible  for
     real   estate   taxes  and  other  costs   associated   with
     maintaining the property.  The Partnership has evaluated the
     lease  and  property  value and decided  that  there  is  no
     impairment  loss at this time.  At December  31,  2005,  the
     book value of this property was $1,607,873.

     The  Partnership owns a 2.4058% interest in  a  Taco  Cabana
     restaurant in Waco, Texas, a 2.2074% interest in a  HomeTown
     Buffet  restaurant,  a  9.0963% interest  in  an  Applebee's
     restaurant in Temple Terrace, Florida, a .016% interest in a
     Champps  restaurant in Troy, Michigan and a 2.5775% interest
     in  a Marie Callender's restaurant.  The remaining interests
     in  these  properties are owned by unrelated third  parties,
     who  own  the properties with the Partnership as tenants-in-
     common.

     For  properties owned as of December 31, 2005,  the  minimum
     future rent payments required by the leases are as follows:

                       2006           $ 1,471,701
                       2007             1,313,706
                       2008             1,284,306
                       2009             1,294,795
                       2010             1,305,444
                       Thereafter      10,563,939
                                       -----------
                                      $17,233,891
                                       ===========

     There were no contingent rents recognized in 2005 and 2004.

(5)  Note Receivable -

     On  July  11,  2003,  as part of the  sale  of  the  Denny's
     restaurant  in  Apple  Valley, California,  the  Partnership
     received  a  Promissory Note in the amount of $128,750  from
     the  tenant, who purchased the property.  The Note  required
     monthly payments of $1,077, bore interest at an 8% rate  and
     was  secured by the land, building and equipment.  On August
     3,  2005, the Partnership received the outstanding principal
     and  accrued  interest due on the Note.  As of December  31,
     2004,  the  outstanding  principal  due  on  the  Note   was
     $124,829.

   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(6)  Major Tenants -

     The following schedule presents rent revenue from individual
     tenants,   or  affiliated  groups  of  tenants,   who   each
     contributed more than ten percent of the Partnership's total
     rent revenue for the years ended December 31:

             Tenants               Industry        2005       2004

     Kona Restaurant Group, Inc.  Restaurant    $ 293,554  $ 297,852
     Texas Taco Cabana L.P.       Restaurant      227,692    216,981
     Eckerd Corporation           Retail          184,753        N/A
                                                 ---------  ---------
     Aggregate rent revenue of major tenants    $ 705,999  $ 514,833
                                                 =========  =========
     Aggregate rent revenue of major tenants as
     a percentage of total rent revenue                44%        33%
                                                 =========  =========

(7) Discontinued Operations -

     On  November  19,  2004, the Partnership  sold  its  3.3979%
     interest in the Applebee's restaurant in Aurora, Colorado to
     the  tenant.  The Partnership received net sale proceeds  of
     $77,724, which resulted in a net gain of $45,044.  The  cost
     and  related  accumulated depreciation of the interest  sold
     was $44,782 and $12,102, respectively.

     In  July  2003,  the  tenant of the Razzoo's  restaurant  in
     Alpharetta,  Georgia notified the Partnership  that  it  was
     experiencing financial difficulty stemming from  lower  than
     expected  sales and that it might not be able to pay  future
     rents.   In late 2003, the tenant closed the restaurant  and
     said  that it no longer intended to operate a restaurant  at
     the  site.  The Partnership and the tenant entered  into  an
     agreement,  effective  November 1, 2004,  to  terminate  the
     lease   and  return  possession  of  the  property  to   the
     Partnership.   Rents  were  current  through  the  date   of
     termination.  As part of the agreement, the Partnership  was
     reimbursed for certain expenses it incurred related to legal
     action  it  pursued in connection with this situation.   The
     Partnership listed the property for sale with a real  estate
     broker  in  the  Alpharetta area.  While  the  property  was
     vacant,  the  Partnership was responsible  for  real  estate
     taxes and other costs required to maintain the property.

   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(7) Discontinued Operations - (Continued)

     Based  on an analysis of market conditions in the area,  the
     Partnership   determined  the  property  was   impaired   in
     accordance  with the requirements of Statement of  Financial
     Accounting  Standards No. 144, Accounting for the Impairment
     or  Disposal  of  Long-Lived Assets.  As a  result,  in  the
     fourth  quarter of 2003, a charge to discontinued operations
     for real estate impairment of $169,320 was recognized, which
     was  the  difference between the book value at December  31,
     2003  of  $569,320 and the estimated fair value of $400,000.
     The  charge  was  recorded against the  cost  of  the  land,
     building  and equipment.  At December 31, 2004, the property
     was classified as Real Estate Held for Sale.

     In  December 2004, the Partnership entered into an agreement
     to  sell  the  property in Alpharetta to an unrelated  third
     party.   On  March  29,  2005,  the  sale  closed  with  the
     Partnership  receiving net sale proceeds of $432,160,  which
     resulted in a net gain of $32,160.

     During  the  fourth  quarter of 2005, the  Partnership  sold
     23.1409%  of  the  Johnny Carino's restaurant  in  Longview,
     Texas,  in  three separate transactions, to unrelated  third
     parties.   The Partnership received total net sale  proceeds
     of  $758,149, which resulted in a net gain of $237,562.  The
     cost  and  related accumulated depreciation of the interests
     sold was $546,069 and $25,482, respectively.

     Subsequent  to December 31, 2005, the Partnership  sold  its
     remaining   26.8591%   interest  in  the   Johnny   Carino's
     restaurant   in   Longview,   Texas,   in   three   separate
     transactions,  to unrelated third parties.  The  Partnership
     received  total net sale proceeds of approximately $861,000,
     which resulted in a net gain of approximately $256,800.  The
     cost  and  related accumulated depreciation of the interests
     sold  was  $633,809 and $29,576, respectively.  At  December
     31,  2005,  the property was classified as Real Estate  Held
     for Sale with a book value of $604,233.

     On  April 30, 2004, the Partnership purchased a 50% interest
     in  an  Applebee's restaurant in Stow, Ohio for  $1,575,755.
     The  property  is  leased to Apple Ohio LLC  under  a  Lease
     Agreement with a primary term of 20 years and annual  rental
     payments of $120,043.

     In  October 2005, the Partnership entered into an  agreement
     to  sell its interest in the Applebee's restaurant in  Stow,
     Ohio to an unrelated third party.  On November 15, 2005, the
     sale closed with the Partnership receiving net sale proceeds
     of $1,835,784, which resulted in a net gain of $310,235.  At
     the   time   of  sale,  the  cost  and  related  accumulated
     depreciation was $1,575,755 and $50,206, respectively.

   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(7) Discontinued Operations - (Continued)

     During  2005 and 2004, the Partnership distributed  $497,297
     and $455,461 of net sale proceeds to the Limited and General
     Partners  as  part  of their quarterly distributions,  which
     represented  a  return of capital of $24.27 and  $22.20  per
     Limited  Partnership  Unit, respectively.   The  Partnership
     anticipates the remaining net sale proceeds will  either  be
     reinvested  in  additional property or  distributed  to  the
     Partners in the future.

     The financial results for these properties are reflected  as
     Discontinued   Operations  in  the  accompanying   financial
     statements.   The following are the results of  discontinued
     operations for the years ended December 31:

                                                  2005       2004

     Rental Income                            $ 205,764   $ 242,608
     Property Management Expenses                (3,752)     (3,293)
     Depreciation                               (48,603)    (53,680)
     Gain on Disposal of Real Estate            579,957      45,044
                                               ---------   ---------
          Income from Discontinued Operations $ 733,366   $ 230,679
                                               =========   =========

(8)  Partners' Capital -

     Cash  distributions of $18,861 and $17,697 were made to  the
     General Partners and $1,867,278 and $1,751,949 were made  to
     the  Limited Partners for the years ended December 31,  2005
     and 2004, respectively.  The Limited Partners' distributions
     represent  $92.05  and $86.14 per Limited  Partnership  Unit
     outstanding  using 20,286 and 20,338 weighted average  Units
     in 2005 and 2004, respectively.  The distributions represent
     $79.67  and  $50.60 per Unit of Net Income  and  $12.38  and
     $35.54  per  Unit  of return of capital in  2005  and  2004,
     respectively.

     As  part  of  the  Limited  Partner distributions  discussed
     above, the Partnership distributed $492,324 and $450,906  of
     proceeds from property sales in 2005 and 2004, respectively.
     The  distributions  reduced the Limited  Partners'  Adjusted
     Capital Contributions.

     The  Partnership may acquire Units from Limited Partners who
     have tendered their Units to the Partnership. Such Units may
     be acquired at a discount.  The Partnership is not obligated
     to  purchase in any year more than 5% of the number of Units
     outstanding at the beginning of the year.  In no event shall
     the  Partnership be obligated to purchase Units if,  in  the
     sole  discretion  of  the  Managing  General  Partner,  such
     purchase  would  impair  the capital  or  operation  of  the
     Partnership.

   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(8)  Partners' Capital - (Continued)

     During  2005, the Partnership did not redeem any Units  from
     the  Limited Partners.  During 2004, seven Limited  Partners
     redeemed  a  total of 69.5 Partnership Units for $27,153  in
     accordance  with the Partnership Agreement.  The Partnership
     acquired  these  Units using Net Cash Flow from  operations.
     The  redemptions  increase the remaining  Limited  Partners'
     ownership interest in the Partnership.  As a result of these
     redemption   payments  and  pursuant  to   the   Partnership
     Agreement,  the  General Partners received distributions  of
     $274 in 2004.

     After  the  effect of redemptions and the return of  capital
     from   the   sale   of   property,  the   Adjusted   Capital
     Contribution,  as defined in the Partnership  Agreement,  is
     $839.89 per original $1,000 invested.

(9)  Income Taxes -

     The   following  is  a  reconciliation  of  net  income  for
     financial reporting purposes to income reported for  federal
     income tax purposes for the years ended December 31:

                                                       2005       2004

     Net Income for Financial Reporting Purposes  $ 1,632,577   $ 1,067,027

     Depreciation for Tax Purposes Under
       Depreciation for Financial Reporting Purposes   46,058        32,031

     Gain on Sale of Real Estate for Tax Purposes
       Under Gain for Financial Reporting Purposes   (158,283)         (544)
                                                   -----------   -----------
           Taxable Income to Partners             $ 1,520,352   $ 1,098,514
                                                   ===========   ===========


   AEI NET LEASE INCOME & GROWTH FUND XIX LIMITED PARTNERSHIP
                  NOTES TO FINANCIAL STATEMENTS
                   DECEMBER 31, 2005 AND 2004

(9)  Income Taxes - (Continued)

     The  following is a reconciliation of Partners' capital  for
     financial  reporting purposes to Partners' capital  reported
     for federal income tax purposes for the years ended December
     31:
                                                            2005       2004

     Partners'Capital for Financial Reporting Purposes $16,137,099 $16,390,661

     Adjusted Tax Basis of Investments in Real Estate
         Over Net Investments in Real Estate
         for Financial Reporting Purposes                   97,383     209,608

     Syndication Costs Treated as Reduction
          of  Capital For Financial Reporting Purposes   3,012,278   3,012,279
                                                        ----------  ----------
         Partners' Capital for Tax Reporting Purposes  $19,246,760 $19,612,548
                                                        ==========  ==========

(10) Fair Value of Financial Instruments -

     The estimated fair values of the financial instruments, none
     of  which  are held for trading purposes, are as follows  at
     December 31:

                                         2005                  2004
                                Carrying       Fair    Carrying      Fair
                                 Amount       Value     Amount       Value

     Money Market Funds     $3,845,555   $3,845,555  $1,079,268  $1,079,268
                             ----------   ----------  ----------  ----------
       Total Cash and
          Cash Equivalents  $3,845,555   $3,845,555  $1,079,268  $1,079,268
                             ==========   ==========  ==========  ==========

ITEM 8.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
       ACCOUNTING AND FINANCIAL DISCLOSURE.

       None.

ITEM 8A.        CONTROLS AND PROCEDURES.

       (a) Evaluation of disclosure controls and procedures

        Under  the  supervision  and with  the  participation  of
management, including its President and Chief Financial  Officer,
the  Managing  General Partner of the Partnership  evaluated  the
effectiveness  of  the  design and operation  of  its  disclosure
controls  and procedures (as defined in Rule 13a-14(c) under  the
Exchange  Act).   Based upon that evaluation, the  President  and
Chief Financial Officer of the Managing General Partner concluded
that,  as  of  the end of the period covered by this report,  the
disclosure  controls  and  procedures  of  the  Partnership   are
adequately  designed to ensure that information  required  to  be
disclosed  by  us  in  the reports we file or  submit  under  the
Exchange  Act  is recorded, processed, summarized  and  reported,
within the time periods specified in applicable rules and forms.

       (b)  Changes in internal controls

         There   were   no  significant  changes  made   in   the
Partnership's  internal controls during the  most  recent  period
covered  by  this  report that have materially affected,  or  are
reasonably   likely  to  materially  affect,  the   Partnership's
internal control over financial reporting.

ITEM 8B. OTHER INFORMATION.

       None.


                            PART III

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
       PERSONS;  COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

        The  registrant  is  a  limited partnership  and  has  no
officers,  directors, or direct employees.  The General  Partners
manage  and  control the Partnership's affairs and  have  general
responsibility  and  the  ultimate  authority  in   all   matters
affecting  the Partnership's business.  The General Partners  are
AEI  Fund  Management  XIX,  Inc.  (AFM),  the  Managing  General
Partner,   and  Robert  P.  Johnson,  Chief  Executive   Officer,
President  and  sole  director  of AFM,  the  Individual  General
Partner.   AFM  is  a  wholly  owned subsidiary  of  AEI  Capital
Corporation  of  which  Mr. Johnson is the majority  shareholder.
AFM  has only one senior financial executive, its Chief Financial
Officer.   The  Chief Financial Officer reports directly  to  Mr.
Johnson  and  is  accountable for his  actions  to  Mr.  Johnson.
Although Mr. Johnson and AFM require that all of their personnel,
including  the  Chief  Financial Officer, engage  in  honest  and
ethical  conduct,  ensure  full,  fair,  accurate,  timely,   and
understandable    disclosure,   comply   with   all    applicable
governmental  laws,  rules and regulations,  and  report  to  Mr.
Johnson   any  deviation  from  these  principles,  because   the
organization  is  composed of only approximately 35  individuals,
because  the  management of a partnership by an entity  that  has
different  interests in distributions and income  than  investors
involves numerous conflicts of interest that must be resolved  on
a  daily  basis, and because the ultimate decision maker  in  all
instances  is Mr. Johnson, AFM has not adopted a formal  code  of
conduct.   Instead,  the materials pursuant  to  which  investors
purchase Units disclose these conflicts of interest in detail and
Mr.  Johnson,  as  the  CEO and sole director  of  AFM,  resolves
conflicts  to  the  best  of  his ability,  consistent  with  his
fiduciary obligations to AFM and the fiduciary obligations of AFM
to  the  Partnership.  The director and officers of  AFM  are  as
follows:

        Robert  P.  Johnson, age 61, is Chief Executive  Officer,
President  and  sole director and has held these positions  since
the formation of AFM in September, 1990, and has been elected  to
continue  in these positions until December 2006.  From  1970  to
the  present, he has been employed exclusively in the  investment
industry,  specializing in limited partnership  investments.   In
that capacity, he has been involved in the development, analysis,
marketing   and  management  of  public  and  private  investment
programs investing in net lease properties as well as public  and
private  investment  programs investing  in  energy  development.
Since 1971, Mr. Johnson has been the president, a director and  a
registered principal of AEI Securities, Inc., which is registered
with  the SEC as a securities broker-dealer, is a member  of  the
National Association of Securities Dealers, Inc. (NASD) and is  a
member  of the Security Investors Protection Corporation  (SIPC).
Mr.  Johnson  has  been president, a director and  the  principal
shareholder   of  AEI  Fund  Management,  Inc.,  a  real   estate
management  company founded by him, since 1978.  Mr.  Johnson  is
currently  a general partner or principal of the general  partner
in  eleven  limited partnerships and a managing  member  in  four
LLCs.

        Patrick  W.  Keene,  age 46, is Chief Financial  Officer,
Treasurer  and  Secretary  and has  held  these  positions  since
January  22,  2003  and  has been elected to  continue  in  these
positions  until December 2006.  Mr. Keene has been  employed  by
AEI  Fund  Management, Inc. and affiliated entities  since  1986.
Prior  to being elected to the positions above, he was Controller
of  the various entities.  From 1982 to 1986, Mr. Keene was  with
KPMG  Peat  Marwick  Certified Public Accountants,  first  as  an
auditor and later as a tax manager.  Mr. Keene is responsible for
all accounting functions of AFM and the registrant.

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL
       PERSONS; COMPLIANCE WITH SECTION 16(a) OF THE EXCHANGE ACT.

       Since Mr. Johnson serves as the Individual General Partner
of  the Partnership, as well as the sole director of AFM, all  of
the  duties  that  might be assigned to an  audit  committee  are
assigned  to Mr. Johnson.  Mr. Johnson is not an audit  committee
financial expert, as defined.  As an officer and majority  owner,
through  a parent company, of AFM, and as the Individual  General
Partner, Mr. Johnson is not a "disinterested director" and may be
subject to a number of conflicts of interests in his capacity  as
sole director of AFM.

        Before the independent auditors are engaged, Mr. Johnson,
as the sole director of AFM, approves all audit-related fees, and
all permissible nonaudit fees, for services of our auditors.

Section 16(a) Beneficial Ownership Reporting Compliance

        Under federal securities laws, the directors and officers
of  the  General  Partner of the Partnership, and any  beneficial
owner  of  more than 10% of a class of equity securities  of  the
Partnership,  are  required  to report  their  ownership  of  the
Partnership's equity securities and any changes in such ownership
to  the  Securities  and Exchange Commission (the  "Commission").
Specific due dates for these reports have been established by the
Commission, and the Partnership is required to disclose  in  this
Annual Report on 10-KSB any delinquent filing of such reports and
any  failure  to file such reports during the fiscal  year  ended
December  31, 2005.  Based upon information provided by  officers
and directors of the General Partner, all officers, directors and
10% owners filed all reports on a timely basis in the 2005 fiscal
year.

ITEM 10.  EXECUTIVE COMPENSATION.

        The General Partner and affiliates are reimbursed at cost
for  all  services performed on behalf of the registrant and  for
all  third party expenses paid on behalf of the registrant.   The
cost for services performed on behalf of the registrant is actual
time  spent  performing such services plus  an  overhead  burden.
These  services include organizing the registrant  and  arranging
for  the  offer  and  sale  of Units,  reviewing  properties  for
acquisition and rendering administrative, property management and
property  sales services.  The amount and nature of such payments
are detailed in Item 12 of this annual report on Form 10-KSB.

ITEM 11.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND
       MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

        The following table sets forth information pertaining  to
the   ownership  of  the  Units  by  each  person  known  by  the
Partnership to beneficially own 5% or more of the Units, by  each
General  Partner, and by each officer or director of the Managing
General Partner as of February 28, 2006:

     Name and Address                   Number of     Percent
   of Beneficial Owner                  Units Held    of Class

   AEI Fund Management XIX, Inc.            0            0%
   1300 Wells Fargo Place
   30 East 7th Street, St. Paul, Minnesota 55101

   Robert P. Johnson                       5.12          *
   1300 Wells Fargo Place
   30 East 7th Street, St. Paul, Minnesota 55101

   Patrick W. Keene                        0            0%
   1300 Wells Fargo Place
   30 East 7th Street, St. Paul, Minnesota 55101

*    Less than 1%

The  persons  set forth in the preceding table hold  sole  voting
power  and power of disposition with respect to all of the  Units
set forth opposite their names.  The General Partners know of  no
holders of more than 5% of the outstanding Units.

ITEM 12.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

        The  registrant,  AFM  and  its  affiliates  have  common
management and utilize the same facilities.  As a result, certain
administrative  expenses  are  allocated  among   these   related
entities.   All  of  such activities and any  other  transactions
involving the affiliates of the General Partner of the registrant
are  governed  by,  and  are conducted in  conformity  with,  the
limitations set forth in the Limited Partnership Agreement of the
registrant.   Reference  is  made to  Note  3  of  the  Financial
Statements,   as  presented,  and  is  incorporated   herein   by
reference,  for  details of related party  transactions  for  the
years ended December 31, 2005 and 2004.

        The  limitations  included in the  Partnership  Agreement
require   that  the  cumulative  reimbursements  to  the  General
Partners  and  their affiliates for administrative  expenses  not
allowed under the NASAA Guidelines ("Guidelines") will not exceed
the  sum of (i) the front-end fees allowed by the Guidelines less
the  front-end fees paid by the Partnership, (ii) the  cumulative
property management fees allowed by the Guidelines but not  paid,
(iii)  any real estate commission allowed by the Guidelines,  and
(iv)  10%  of  Net  Cash  Flow less the Net  Cash  Flow  actually
distributed to the General Partners.  The administrative expenses
not  allowed under the Guidelines include a controlling  person's
salary  and  fringe  benefits,  rent  and  depreciation.   As  of
December  31, 2005, the cumulative reimbursements to the  General
Partners and their affiliates did not exceed those amounts.


ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.
         (Continued)

        The following table sets forth the forms of compensation,
distributions  and cost reimbursements paid by the registrant  to
the  General Partners or their Affiliates in connection with  the
operation  of  the Fund and its properties for  the  period  from
inception through December 31, 2005.

  Person or Entity                                  Amount Incurred From
     Receiving                Form and Method   Inception (September 14, 1990)
   Compensation               of Compensation       To December 31, 2005

AEI Securities, Inc. Selling Commissions equal to 7%       $2,115,193
                     of proceeds plus a 3% nonaccountable
                     expense allowance, most of which was
                     reallowed to Participating Dealers.

General Partners and Reimbursement at Cost for other       $  903,786
Affiliates           Organization and Offering Costs.

General Partners and Reimbursement at Cost for all         $  738,960
Affiliates           Acquisition Expenses

General Partners and Reimbursement at Cost for all         $3,511,300
Affiliates           Administrative Expenses attributable
                     to the Fund, including all expenses
                     related to management of the Fund's
                     properties and all other transfer
                     agency, reporting, partner relations
                     and other administrative functions.

General Partners and Reimbursement at Cost for all         $  994,305
Affiliates           expenses related to the disposition
                     of the Fund's properties.

General Partners     1% of Net Cash Flow in any fiscal     $  220,231
                     year until the Limited Partners have
                     received annual, non-cumulative
                     distributions of Net Cash Flow  equal
                     to 10% of their Adjusted Capital
                     Contributions and 10% of any remaining
                     Net Cash Flow in such fiscal year.

General Partners     1% of distributions of Net Proceeds   $   41,556
                     of Sale until Limited Partners have
                     received an amount equal to (a) their
                     Adjusted Capital Contributions,  plus
                     (b) an amount equal to 12% of their
                     Adjusted Capital Contributions per
                     annum, cumulative but not compounded,
                     to  the  extent  not   previously
                     distributed.  10% of distributions of
                     Net Proceeds of Sale thereafter.


                             PART IV

ITEM 13.  EXHIBITS.

    3.1   Certificate  of  Limited Partnership  (incorporated  by
    reference  to  Exhibit  3.1 of the registrant's  Registration
    Statement  on Form S-11 filed on October 10, 1990  [File  No.
    33-37239]).

    3.2    Limited   Partnership   Agreement   (incorporated   by
    reference  to  Exhibit  3.2 of the registrant's  Registration
    Statement  on Form S-11 filed on October 10, 1990  [File  No.
    33-37239]).

    10.1  Net  Lease Agreement dated March 16, 1992  between  the
    Partnership  and Taco Cabana, Inc. relating to  the  Property
    at  6040  Bandera  Road, San Antonio, Texas (incorporated  by
    reference to Exhibit 10.1 of Post-Effective Amendment  No.  1
    to  the  registrant's  Registration Statement  on  Form  S-11
    filed June 15, 1992 [File No. 33-37239]).

    10.2  Net  Lease  Agreement dated May  1,  1992  between  the
    Partnership  and Taco Cabana, Inc. relating to  the  Property
    at  825  South  6th  Street,  Waco,  Texas  (incorporated  by
    reference to Exhibit 10.3 of Post-Effective Amendment  No.  1
    to  the  registrant's  Registration Statement  on  Form  S-11
    filed June 15, 1992 [File No. 33-37239]).

    10.3  Net  Lease Agreement dated April 14, 1993  between  the
    Partnership  and Apple Partners Limited Partnership  relating
    to  the  Property at 9041-E Watson Road, Crestwood,  Missouri
    (incorporated  by  reference to Exhibit 10.18  of  Form  10-K
    filed March 29, 1994).

    10.4  Net  Lease  Agreement dated June 16, 1993  between  the
    Partnership  and  JB's  Restaurants,  Inc.  relating  to  the
    Property   at   330   South  Wilmot  Road,  Tucson,   Arizona
    (incorporated  by  reference to Exhibit 10.21  of  Form  10-K
    filed March 29, 1994).

    10.5  Net  Lease Agreement dated September 30,  1993  between
    the  Partnership  and  Casual Restaurant  Concepts  II,  Inc.
    relating  to  the  Property at Terrace Walk  Shopping  Plaza,
    56th  Street  and  Fowler  Avenue,  Temple  Terrace,  Florida
    (incorporated  by  reference to Exhibit 10.28  of  Form  10-K
    filed March 29, 1994).

    10.6 Net Lease Agreement dated December 23, 1997 between  the
    Partnership,  AEI  Real Estate Fund XV  Limited  Partnership,
    AEI  Real  Estate  Fund XVIII Limited Partnership,  AEI  Real
    Estate    Fund   XVII   Limited   Partnership   and   Champps
    Entertainment, Inc. relating to the Property at 301 West  Big
    Beaver  Road,  Troy, Michigan (incorporated by  reference  to
    Exhibit 10.62 of Form 10-KSB filed March 23, 1998).

    10.7  Net  Lease Agreement dated April 13, 1998  between  the
    Partnership,  AEI Real Estate Fund XVIII Limited Partnership,
    Robert  P.  Johnson,  and Tumbleweed,  LLC  relating  to  the
    Property  at  1150  North  Bridge Street,  Chillicothe,  Ohio
    (incorporated  by reference to Exhibit 10.2  of  Form  10-QSB
    filed May 12, 1998).

    10.8  First Amendment to Net Lease Agreement dated  September
    3,  1998  between the Partnership, AEI Real Estate Fund  XVII
    Limited  Partnership,  AEI  Real Estate  Fund  XVIII  Limited
    Partnership, AEI Real Estate Fund XV Limited Partnership  and
    Champps Entertainment, Inc. relating to the Property  at  301
    West  Big  Beaver  Road,  Troy,  Michigan  (incorporated   by
    reference  to Exhibit 10.1 of Form 10-QSB filed  November  9,
    1998).

    10.9  First  Amendment to Net Lease Agreement dated  November
    20,  1998 between the Partnership, AEI Real Estate Fund XVIII
    Limited  Partnership, Robert P. Johnson and  Tumbleweed,  LLC
    relating  to  the  Property  at  1150  North  Bridge  Street,
    Chillicothe,  Ohio  (incorporated  by  reference  to  Exhibit
    10.53 of Form 10-KSB filed March 12, 1999).

    10.10      Lease  Agreement dated September 28, 1999  between
    the  Partnership,  AEI  Income &  Growth  Fund  XXII  Limited
    Partnership  and Marie Callender Pie Shops, Inc. relating  to
    the  Property  at  530  North  Stephanie  Street,  Henderson,
    Nevada (incorporated by reference to Exhibit 10.1 of Form 10-
    QSB filed November 8, 1999).

ITEM 13.  EXHIBITS.  (Continued)

    10.11      Net Lease Agreement dated May 8, 2000 between  the
    Partnership,  AEI  Real Estate Fund XV  Limited  Partnership,
    AEI  Real Estate Fund XVII Limited Partnership, AEI Income  &
    Growth  Fund  XXII  Limited Partnership  and  Razzoo's,  Inc.
    relating   to  the  Property  at  11617  Research  Boulevard,
    Austin,  Texas (incorporated by reference to Exhibit 10.2  of
    Form 10-QSB filed August 2, 2000).

    10.12      Net  Lease Agreement dated April 27, 2001  between
    the   Partnership,   AEI  Real  Estate  Fund   XVII   Limited
    Partnership,  AEI Net Lease Income & Growth Fund  XX  Limited
    Partnership and Champps Entertainment, Inc. relating  to  the
    Property  at  12515 Hall Road, Utica, Michigan  (incorporated
    by  reference  to Exhibit 10.2 of Form 10-QSB filed  May  10,
    2001).

    10.13      First Amendment to Net Lease Agreement dated  June
    27,  2001  between the Partnership, AEI Real Estate  Fund  XV
    Limited  Partnership,  AEI  Real  Estate  Fund  XVII  Limited
    Partnership,   AEI   Income  &  Growth  Fund   XXII   Limited
    Partnership  and Razzoo's, Inc. relating to the  Property  at
    11617  Research  Boulevard, Austin,  Texas  (incorporated  by
    reference  to  Exhibit 10.1 of Form 10-QSB  filed  August  7,
    2001).

    10.14      First  Amendment  to  Net  Lease  Agreement  dated
    February  12, 2002 between the Partnership, AEI  Real  Estate
    Fund  XVII Limited Partnership, AEI Net Lease Income & Growth
    Fund  XX Limited Partnership and Champps Entertainment,  Inc.
    relating  to the Property at 12515 Hall Road, Utica, Michigan
    (incorporated  by reference to Exhibit 10.77 of  Form  10-KSB
    filed March 8, 2002).

    10.15      Assignment and Assumption of Lease dated  July  3,
    2003,  between the Partnership, AEI Net Lease Income & Growth
    Fund  XX Limited Partnership and NMA Fort Wayne, LLC relating
    to  the  Property  at 4010 Jefferson Boulevard,  Fort  Wayne,
    Indiana  (incorporated by reference to Exhibit 10.3  of  Form
    10-QSB filed August 8, 2003).

    10.16      Assignment and Assumption of Lease Agreement dated
    September  19,  2003 between the Partnership,  AEI  Income  &
    Growth  Fund  XXI  Limited Partnership, AEI Income  &  Growth
    Fund  24, LLC and Transmitter Crossing, LLC relating  to  the
    Property  at  3621  Highway 231 North, Panama  City,  Florida
    (incorporated  by reference to Exhibit 10.2  of  Form  10-QSB
    filed November 11, 2003).

    10.17      Net Lease Agreement dated November 5, 2003 between
    the   Partnership,   AEI  Real  Estate  Fund   XVII   Limited
    Partnership and Kona Restaurant Group, Inc. relating  to  the
    Property   at   411   B  East  Loop  281,   Longview,   Texas
    (incorporated  by reference to Exhibit 10.4  of  Form  10-QSB
    filed November 11, 2003).

    10.18      Net  Lease  Agreement  dated  December  30,   2003
    between  the  Partnership  and Kona  Restaurant  Group,  Inc.
    relating  to  the  Property  at  2600  Highway  77/83,  North
    Brownsville,  Texas  (incorporated by  reference  to  Exhibit
    10.2 of Form 8-K filed January 2, 2004).

    10.19      Assignment and Assumption of Lease dated  February
    5,  2004 between the Partnership, AEI Real Estate Fund  XVIII
    Limited  Partnership and Translakewood, LLC relating  to  the
    Property  at  14145  West Colfax Avenue,  Lakewood,  Colorado
    (incorporated by reference to Exhibit 10.2 of Form 8-K  filed
    February 17, 2004).

    10.20  Assignment of Purchase Agreement dated April 22, 2004
    between  the  Partnership  and  AEI  Fund  Management,   Inc.
    relating  to  the  Property at 4296  Kent  Road,  Stow,  Ohio
    (incorporated  by reference to Exhibit 10.1  of  Form  10-QSB
    filed May 11, 2004).

    10.21 Assignment and Assumption of Lease dated April 30, 2004
    between  the Partnership, AEI Real Estate Fund XVIII  Limited
    Partnership  and PRECO II CRIC LLC relating to  the  Property
    at  4296 Kent Road, Stow, Ohio (incorporated by reference  to
    Exhibit 10.2 of Form 10-QSB filed May 11, 2004).

    10.22 Assignment and Assumption of Lease dated  May  10, 2004
    between  the Partnership, AEI Real Estate Fund XVIII  Limited
    Partnership  and Grant Ave. & Standard Ave. Development,  LLC
    relating  to  the Property at 157 Grant Avenue,  Auburn,  New
    York  (incorporated by reference to Exhibit 10.2 of Form  8-K
    filed May 14, 2004).

ITEM 13.  EXHIBITS.  (Continued)

    10.23 Commercial  Purchase and Sale Agreement  dated December
    16,  2004 between the Partnership, AEI Real Estate Fund XVIII
    Limited  Partnership, AEI Income & Growth Fund  23  LLC,  AEI
    Private  Net  Lease Millennium Fund Limited  Partnership  and
    Action  Outdoor Advertising Inc. relating to the Property  at
    5970  North  Point Parkway, Alpharetta, Georgia (incorporated
    by  reference to Exhibit 10.31 of Form 10-KSB filed March 18,
    2005).

    10.24 Purchase Agreement dated October 19, 2005  between  the
    Partnership,  AEI Real Estate Fund XVIII Limited  Partnership
    and  KOE  LLC  relating to the Property at  4296  Kent  Road,
    Stow,  Ohio  (incorporated by reference to  Exhibit  10.1  of
    Form 10-QSB filed November 4, 2005).

    10.25 Assignment of  Commercial Purchase  and  Sale  Contract
    dated  January 16, 2006 between the Partnership and AEI  Fund
    Management,  Inc. relating to the Property at  621  South  77
    Sunshine Strip, Harlingen, Texas.

    10.26 Assignment and Assumption of Lease dated  February  17,
    2006  between  the  Partnership and  Meyer-Lamph  Development
    Group,  LTD.  relating  to  the  Property  at  621  South  77
    Sunshine Strip, Harlingen, Texas.

    10.27 Assignment  and  Assumption  of   Purchase   and   Sale
    Agreement  dated  March 2, 2006 between the Partnership,  AEI
    Net  Lease  Income & Growth Fund XX Limited  Partnership  and
    AEI  Fund Management, Inc. relating to the Property  at  1740
    Belt Line Road, Mesquite, Texas.

    10.28 Assignment of Lease dated March 10,  2006  between  the
    Partnership,  AEI Net Lease Income & Growth Fund  XX  Limited
    Partnership and VR Partners I, L.P. relating to the  Property
    at 1740 Belt Line Road, Mesquite, Texas.

    31.1    Certification of Chief Executive Officer  of  General
    Partner pursuant to Rule 15d-14(a)(17 CFR 240.15d-14(a))  and
    Section 302 of the Sarbanes-Oxley Act of 2002.

    31.2    Certification of Chief Financial Officer  of  General
    Partner pursuant to Rule 15d-14(a)(17 CFR 240.15d-14(a))  and
    Section 302 of the Sarbanes-Oxley Act of 2002.

    32      Certification  of Chief Executive Officer  and  Chief
    Financial Officer of General Partner pursuant to Section  906
    of the Sarbanes-Oxley Act of 2002.

ITEM 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES.

        The  following  is a summary of the fees  billed  to  the
Partnership  by  Boulay, Heutmaker, Zibell  &  Co.  P.L.L.P.  for
professional  services rendered for the years ended December  31,
2005 and 2004:

     Fee Category                             2005       2004

     Audit Fees                           $ 12,750   $ 11,995
     Audit-Related Fees                        218        625
     Tax Fees                                    0          0
     All Other Fees                              0          0
                                           --------   -------
          Total Fees                      $  12,968  $ 12,620
                                           ========   =======

Audit  Fees  - Consists of fees billed for professional  services
rendered  for  the  audit of the Partnership's  annual  financial
statements   and  review  of  the  interim  financial  statements
included  in  quarterly reports, and services that  are  normally
provided   by  Boulay,  Heutmaker,  Zibell  &  Co.  P.L.L.P.   in
connection with statutory and regulatory filings or engagements.

Audit-Related  Fees - Consists of fees billed for  assurance  and
related  services that are reasonably related to the  performance
of  the  audit  or  review of financial statements  and  are  not
reported under "Audit Fees." These services include consultations
concerning financial accounting and reporting standards.

Tax  Fees - Consists of fees billed for professional services for
federal and state tax compliance, tax advice and tax planning.

All Other Fees - Consists of fees for products and services other
than the services reported above.


Policy   for  Preapproval  of  Audit  and  Permissible  Non-Audit
Services of Independent Auditors

        Before  the  Independent  Auditors  are  engaged  by  the
Partnership to render audit or non-audit services, the engagement
is  approved  by  Mr.  Johnson acting as the Partnership's  audit
committee.



                           SIGNATURES

        In  accordance with Section 13 or 15(d) of  the  Exchange
Act, the registrant caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.


                            AEI NET LEASE INCOME & GROWTH FUND XIX
                            Limited Partnership
                            By:  AEI Fund Management XIX, Inc.
                               Its Managing General Partner


March 17, 2006              By: /s/ Robert P Johnson
                                    Robert P.Johnson, President and Director
                                    (Principal Executive Officer)


        In accordance with the Exchange Act, this report has been
signed below by the following persons on behalf of the registrant
and in the capacities and on the dates indicated.

        Name                       Title                          Date


/s/Robert P Johnson  President (Principal Executive Officer)  March 17, 2006
   Robert P.Johnson  and Sole Director of Managing General
                     Partner

/s/Patrick W Keene   Chief Financial Officer and Treasurer    March 17, 2006
   Patrick W.Keene   (Principal Accounting Officer)